If the Slope of a Demand Curve Is Equal to -0.1

question 179

Multiple Choice

If the slope of a demand curve is equal to -0.1 then

• A)demand is inelastic.
• B)we don't know whether the demand is elastic or inelastic.
• C)the demand is elastic at low prices and inelastic at high prices.
• D)as price increases by 10 percent quantity demanded decreases by 1 percent.

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Definitions:

Male-Breadwinner/Female-Homemaker

A traditional family structure where the man earns the family’s income while the woman manages the household and cares for children.

Interacting

Interacting involves communication or direct involvement with other individuals or entities, leading to a reciprocal respond or influence.

Micro-Level Perspective

A viewpoint in sociology that focuses on the individual and immediate social interactions, rather than larger societal structures.

Large-Scale Patterns

Broad trends or behaviors that can be observed across large segments of populations or geographical areas.