Assuming Price Elasticity of Demand Is Reported as an Absolute

question 128

Multiple Choice

Assuming price elasticity of demand is reported as an absolute value, a price elasticity of demand of 0.4 indicates an _____ demand, meaning the percentage change in quantity demanded will be _____ than the percentage change in price.

• A) elastic; greater
• B) inelastic; greater
• C) elastic; less
• D) inelastic; less

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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 DNA, carrying genetic information.

DNA

Deoxyribonucleic acid, a self-replicating material which is the carrier of genetic information in nearly all living organisms.

Neurotransmitters

Chemical messengers that transmit signals across a chemical synapse, from one neuron (nerve cell) to another 'target' neuron, muscle cell, or gland cell.

Synaptic Vesicles

Small sacs in nerve cells that store neurotransmitters, which are released into the synaptic cleft to transmit nerve impulses.