If Consumer Purchases of a Good Are Highly Sensitive to the Price

question 386

Multiple Choice

If consumer purchases of a good are highly sensitive to the price of the good, economists say the demand for the good is relatively

• A) inelastic.
• B) elastic.
• C) robust.
• D) inverse.

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Definitions:

Operating System

Fundamental software that manages hardware resources and provides common services for computer programs.

Restoring

The process of bringing something back to its original state, often used in the context of data recovery.

Operate Normally

The condition of functioning in the expected or designated manner, often relating to machinery, computers, or systems running without errors.

Extreme Temperatures

Conditions that are significantly higher or lower than what is considered comfortable or safe for humans, electronic devices, or mechanical components.