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:

Kumquats

Small, edible fruit resembling oranges with a sweet rind and tart flesh, often eaten whole or used in culinary dishes.

Bushel

A unit of volume that is used for measuring quantities of agricultural produce, such as grains.

Consumption

The use of goods and services by households or individuals, encompassing necessities and luxury items.

Bushel

A unit of volume that is used mainly for agricultural products, such as grains and fruits, equivalent to approximately 36.4 liters in the United States.