If the Percentage Change in Quantity Demanded Is Less Than

question 386

True/False

If the percentage change in quantity demanded is less than the percentage change in price, then demand is said to be elastic.

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Definitions:

Electroencephalogram

A test that measures and records the electrical activity of the brain to detect potential problems associated with this activity.

Electrical Impulses

Signals transmitted through neurons or artificial circuits, used to convey information or stimulate responses.

Brain

The organ located in the skull responsible for coordinating sensation, intellectual and nervous activity.

Nephrolithiasis

A condition marked by the formation of kidney stones, or renal calculi, within the urinary system.