Demand Is Elastic Whenever

question 189

Multiple Choice

Demand is elastic whenever

• A)price elasticity has an absolute value of 1
• B)price elasticity has an absolute value greater than 1
• C)price elasticity has an absolute value less than 1
• D)price elasticity is negative
• E)consumers respond to a change in price

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Definitions:

Resistance

In an electrical context, it's the opposition to the flow of electric current; in a broader sense, it could refer to the capacity to withstand something or to not be affected.

Desktop Printers

Compact printers designed for personal or small office use, capable of printing documents, photos, and other materials from desktop or laptop computers.

MST

In computational science, refers to Minimum Spanning Tree, a subset of edges in a weighted graph that connects all vertices with the minimal total edge weight.

MSE

Stands for Mean Squared Error, a measure used to evaluate the difference between the predicted and actual values in statistics and machine learning.