When the Percentage Change in Quantity Demanded Is Greater Than

question 2

Multiple Choice

When the percentage change in quantity demanded is greater than the percentage change in price that brought it about, demand is said to be

• A) elastic.
• B) inelastic.
• C) unit elastic.
• D) unelastic.
• E) zero elastic.

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Definitions:

Uppermost Mantle

The top layer of the Earth's mantle, directly beneath the Earth's crust, involved in tectonic plate movements and magma generation.

Isostasy

The condition of equilibrium, comparable to floating, of the crust resting on the solid mantle.

Equilibrium

A state of balance between opposing forces or actions.

Asthenosphere

The area of mantle beneath the lithosphere that is solid, but hotter than the rock above it and can flow under pressure; functions as a soft, weak zone over which the lithosphere may move.