The Value of Price Elasticity of Demand for a Good

question 225

Multiple Choice

The value of price elasticity of demand for a good with no close substitutes

• A)will tend to be greater than -1
• B)will tend to be less than -1
• C)will tend to be equal to -1
• D)will tend to be equal to 0
• E)cannot be determined without more information

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Definitions:

Accountability

The responsibility to report, explain, and be answerable for resulting consequences of one's actions.

Task Activities

Actions or steps taken by individuals or groups to accomplish a specific task or assignment.

Work Pattern

The regular manner in which work is organized, scheduled, and performed within an organization or job.

Job

A regular activity performed in exchange for payment, typically as part of one's occupation or profession.