<span>There are several terms that are indicative of the tendency to get away from the unknown, including:
Aversion to ambiguity
Clustering illusion
Anchoring and adjustment
Recency bias
Availability bias</span>
<span>Oliver Wendell Holms Jr.
Reportedly first said by Holmes in a speech in 1904, alternately phrased as "Taxes are what we pay for civilized society, including the chance to insure", Compania General De Tabacos De Filipinas v. Collector of Internal Revenue, 275 U.S. 87, 100, dissenting; opinion (21 November 1927). The first variation is quoted by the IRS above the entrance to their headquarters at 1111 Constitution Avenue.
Source: wikiquotes</span>
Explanation:
<em>Is there any paragraph or any answer choices ?</em>
<em>This question can not be answered without a paragraph or something to look to conclude</em>
Answer:
≅ -1.7.
Explanation:
Let's calculate the change in quantity:
Let's now calculate the change in price:
Finally, let's calculate the price elasticity of demand:
