When the Price Goes Down,the Quantity Demanded Goes Up

question 145

Multiple Choice

When the price goes down,the quantity demanded goes up.The price elasticity of demand measures:

• A)how much the price goes down.
• B)how much the equilibrium price goes up.
• C)the responsiveness of the price change to an income change.
• D)the responsiveness of the quantity change to the price change.

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Definitions:

Minor Premise

The second proposition in a syllogism, offering a specific instance of the generalization stated in the major premise.

Mood

The emotional state or atmosphere that a speaker implies through their choice of words and sentences in language.

Syllogism

A form of reasoning in which a conclusion is drawn from two given or assumed propositions (premises), typically using a major and a minor premise to arrive at a logical conclusion.

Premise

A declaration or assertion that forms the basis for another to be deduced or concluded.