What Does the Following Statement Imply About Price Elasticity of Demand

question 146

Multiple Choice

What does the following statement imply about price elasticity of demand? "Cherry producers in British Columbia experienced a healthy increase in revenues this year,despite a reduced harvest due to poor weather conditions."

• A)elastic demand for B.C.cherries
• B)elasticity of demand equal to one for B.C.cherries
• C)inelastic demand for B.C.cherries
• D)elasticity of demand equal to zero for B.C.cherries
• E)infinite elasticity of demand for B.C.cherries

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Definitions:

Neurons

Specialized cells in the nervous system that transmit information through electrical and chemical signals.

Myelin Sheath

A fatty covering that surrounds axons of some nerve cells, facilitating faster transmission of electrical impulses.

Myelin

A fatty substance that surrounds neurons' axons, helping to speed up the transmission of electrical signals in the nervous system.

Neurons

Electrically excitable cells in the nervous system that process and transmit information through electrical and chemical signals.