If a 1 Percent Decrease in Price Results in Less

question 120

Multiple Choice

If a 1 percent decrease in price results in less than a 1 percent increase in the quantity demanded, demand is

• A)cross-price elastic.
• B)price inelastic.
• C)price elastic.
• D)status quo elastic.
• E)derived demand inelastic.

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Definitions:

Retinal Disparity

The slight difference in the visual images that each eye perceives because of the different angles from which each eye views the world.

Depth Perception

The ability to perceive the distance of objects and the spatial relationship among objects.

3-D Movie

A film that provides the illusion of depth perception, creating a three-dimensional visual experience for the viewer.

Monocular Cues

Visual information that allows for the perception of depth and three-dimensional space using one eye.