Technically the Elasticity Number Is Negative Because

question 69

Multiple Choice

Technically the elasticity number is negative because

• A)When price falls quantity demanded will rise,but for simplicity economists take the absolute value of the elasticity number.
• B)When price falls quantity demanded will fall,but for simplicity economists take the absolute value of the elasticity number.
• C)When price rises quantity demanded will rise,but for simplicity economists take the absolute value of the elasticity number.

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Definitions:

Sustainability

refers to practices and processes that meet current needs without compromising the ability of future generations to meet their own needs.

Environmental Justice

The equitable treatment and significant participation of individuals from all backgrounds, irrespective of their race, skin color, nationality, or economic status, in the creation, execution, and application of environmental regulations, laws, and policies.

Ecological Footprint

A measure of human demand on Earth's ecosystems, comparing human consumption of natural resources with the planet's ecological capacity to regenerate them.

Water Area

Water area refers to the part of the Earth's surface covered by lakes, rivers, oceans, and other bodies of water.