The First Unit Took 10 Hours and the Third Unit

question 111

Multiple Choice

The first unit took 10 hours and the third unit took 5.7 hours. What is the improvement rate?

• A) 70%
• B) 30%
• C) 50%
• D) 90%
• E) 10%

---

Definitions:

Linear Demand Curve

A graphical representation showing a straight-line relationship between the price of a good and the quantity demanded, indicating a constant change in demand in response to price changes.

Elasticity

A gauge of the reaction in the amount of a product desired when its price varies.

Relatively Elastic

Describes a situation where the quantity demanded of a good or service greatly changes in response to changes in its price.

Quantity Demanded

The total amount of a good or service that consumers are willing to purchase at a given price level in a given period.