If Demand Falls by 1 Percent When Price Is Increased

question 43

Multiple Choice

If demand falls by 1 percent when price is increased by 2 percent,then .

• A)elasticity is - 1/2
• B)demand is inelastic
• C)demand is elastic
• D)buyers are not price sensitive
• E)A and B

---

Definitions:

Retention Of Information

The ability to store and recall data, facts, or knowledge over time, often facilitated by learning strategies.

Typeface Variety

The range and diversity of font styles used in written communication to enhance readability and visual appeal.

Background Designs

Background designs refer to the visual or graphical elements that serve as the backdrop for a webpage, document, or other media, enhancing its aesthetic appeal or emphasizing its content.

Audience Feedback

Comments, critiques, or reactions provided by the audience, offering valuable insights into their perceptions and expectations.