If the Demand for a Good Is Unit Elastic, Then

question 169

Multiple Choice

If the demand for a good is unit elastic, then

• A)the percentage change in quantity demanded is greater than the percentage change in price.
• B)the percentage change in quantity demanded is less than the percentage change in price.
• C)the percentage change in quantity demanded is equal to the percentage change in price.
• D)quantity demanded is extremely responsive to changes in price.
• E)quantity demanded is not responsive to changes in price.

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Definitions:

Trait-Situation Interaction

A concept in psychology that suggests individuals' behavior is determined by the interaction of their personality traits and environmental situations.

Modern Psychoanalytic Theory

An evolution of Freudian psychoanalysis that may incorporate social, cultural, and interpersonal dynamics in understanding the psyche.

Freud's Theory

A psychoanalytic framework proposed by Sigmund Freud that emphasizes unconscious processes and childhood experiences in shaping personality.

Psychoanalysis

A therapeutic approach and theory of psychology developed by Sigmund Freud that emphasizes unconscious motivations and conflicts.