If the Price of a DVD Falls from $20 to $12

question 247

Multiple Choice

If the price of a DVD falls from $20 to $12 and the quantity of DVDs supplied decreases from 118,000 per hour to 100,000 per hour,using the midpoint formula the elasticity of supply equals

• A) 0.33.
• B) 2.94.
• C) 3.08.
• D) 0.23.
• E) -3.08.

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Definitions:

Climbing

The sport or activity of ascending mountains, rocks, or artificial climbing walls using hands and feet.

College

An educational institution or establishment, particularly one providing higher education or specialized professional or vocational training.

Australia

A country and continent surrounded by the Indian and Pacific oceans, noted for its diverse landscapes, fauna, and cities.

Subject-Verb Agreement

The grammatical rule that the verb in a sentence must agree in number with the subject (singular or plural).