If E = 1, Demand Is Said to Be

question 10

Multiple Choice

If E = 1, demand is said to be

• A) elastic.
• B) inelastic.
• C) unitary.
• D) invalid.

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Definitions:

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Irrational Ideas

Concepts or beliefs that lack logical reasoning or are not based on or consistent with reason and sound judgment.

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Albert Ellis

An American psychologist who developed Rational Emotive Behavior Therapy (REBT), a form of cognitive-behavioral therapy.