The Elasticity Is the Ratio of the Percentage Change in the Quantity

question 3

Multiple Choice

The elasticity is the ratio of the percentage change in the quantity divided by the percentage change in the price. Which of the following statements) is true about elasticity?

• A) The bigger the percentage change in quantity relative to the percentage change in price, the more elastic is demand.
• B) When quantity changes by more than price, the demand is said to be inelastic.
• C) When price changes by more than quantity, the demand is said to be elastic.
• D) When quantity changes by more than price, the demand is said to be elastic.
• E) both A and D

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Definitions:

Chromosomes

Thread-like structures located inside the nucleus of animal and plant cells, made of protein and a single molecule of deoxyribonucleic acid (DNA).

DNA

Deoxyribonucleic acid, the hereditary material in humans and almost all other organisms which contains the instructions for development, functioning, growth, and reproduction.

Protein Molecules

Large biomolecules, or macromolecules, consisting of one or more long chains of amino acid residues, which perform a vast array of functions within organisms.

Chromosomes

Structures made of DNA and proteins found in the nucleus of cells, carrying genetic information in the form of genes.