Elastic Demand Exists When

question 149

Multiple Choice

Elastic demand exists when:

• A)a small percentage decrease in price produces a larger percentage increase in quantity demanded and total revenue increases.
• B)a small percentage decrease in price produces a smaller percentage increase in quantity demanded and total revenue falls.
• C)the quantity demanded remains the same regardless of level of price and total revenue is unchanged.
• D)an increase in price causes a larger increase in quantity demanded and total revenue falls to zero.

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Definitions:

Sound Waves

Audible waves that transit through the air or various media, detectable when they come into contact with the auditory organs of humans or animals.

Alpha Waves

These are brain waves detected by electroencephalography (EEG), typically indicating a state of wakeful relaxation.

Oval Window

A membrane-covered opening at the base of the stapes bone in the middle ear that transfers sound vibrations to the cochlea.

Basilar Membrane

A membrane in the cochlea of the inner ear that vibrates in response to sound and whose vibrations lead to activity in the auditory pathways of the brain.