With a Price Elasticity of Demand of 0

question 140

Multiple Choice

With a price elasticity of demand of 0.45,when the price of soybeans falls by 10 percent,the quantity demanded of soybeans rises by approximately _____________ percent.

• A)4.50
• B)45.0
• C)0.45
• D)0.56

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Definitions:

PLC

A programmable logic controller, an industrial digital computer adapted for controlling manufacturing processes.

XIO Instruction

stands for "Examine if Off" in programmable logic controllers (PLC), used to check if a specific condition or input is false or not present.

Physical Input

A hardware interface through which real-world data is received by a system or device.

Input Voltage

The electrical potential difference provided to the input terminals of a device, necessary for its operation.