Refer to the Following Figure

question 61

Multiple Choice

Refer to the following figure.When price is $10 and quantity demanded is 2,000,what is the point elasticity of demand?

• A)-3
• B)-1/3
• C)-1
• D)-5
• E)-2/3

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Definitions:

Ingroup Behaviour

Actions and norms practiced by members within a group, which foster unity and differentiate the group from others, emphasizing shared identity and interests.

Cultural Group

describes a collection of individuals who share common cultural characteristics, such as language, traditions, and values.

Fundamental Attribution Error

Bias in attributing another’s behaviour more to internal than to situational causes.

Correspondence Bias

A general attribution bias in which people have an inflated tendency to see behaviour as reflecting (corresponding to) stable underlying personality attributes.