If the Percentage Change in Quantity Demanded Is Greater Than

question 34

True/False

If the percentage change in quantity demanded is greater than the percentage change in price, the demand curve has unit price elasticity.

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Definitions:

Need for Achievement

A psychological trait that drives an individual to pursue and attain goals.

nAch

A term used in psychology to denote the need for achievement; it's a person's motivation to excel and achieve in tasks.

Internal Locus of Control

Internal Locus of Control is a psychological concept referring to individuals who believe they can control their life, attributing success to their own efforts and abilities rather than external factors.

Decremental

Characterized by a gradual decrease in size, strength, or value over time.