If the Price Elasticity of Demand Is Equal to 4

question 104

True/False

If the price elasticity of demand is equal to 4, a 1 percent increase in the price will cause quantity demanded to increase from 100 to 104 units.

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Definitions:

Microvilli

Tiny, finger-like protrusions on the surface of some epithelial cells that increase surface area for absorption and secretion.

Intercalated Disc

Specialized cell-cell junctions between cardiac muscle cells that facilitate the synchronized contraction of the heart.

Gap Junctions

Specialized intercellular connections that facilitate the direct transfer of ions and small molecules between the cytoplasms of adjacent cells.

Hemidesmosome

Similar to half a desmosome, attaching epithelial cells to the basement membrane.