When Quantity Moves Proportionately the Same Amount as Price,demand Is

question 87

Multiple Choice

When quantity moves proportionately the same amount as price,demand is

• A)elastic,and the price elasticity of demand is 1.
• B)perfectly elastic,and the price elasticity of demand is infinitely large.
• C)perfectly inelastic,and the price elasticity of demand is 0.
• D)unit elastic,and the price elasticity of demand is 1.

---

Definitions:

Self-confirming Schema

Cognitive frameworks that cause individuals to interpret information in a way that confirms their preexisting beliefs and attitudes.

Confirmation Bias

The proclivity to selectively find, interpret, prioritize, and recollect data in a manner that affirms previously held notions or assumptions.

Preexisting Schemas

Cognitive frameworks or structures that already exist within our minds, influencing how we perceive and interpret new information.

Ambiguous Information

Information that lacks clarity, can be interpreted in multiple ways, or does not provide a clear direction or answer.