If Consumers' Buying Decisions Are Not Very Sensitive to Changes

question 83

Multiple Choice

If consumers' buying decisions are not very sensitive to changes in price, then their demand is:

• A) more elastic.
• B) less elastic.
• C) perfectly inelastic.
• D) unit elastic.

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Definitions:

Carbon Dioxide

Carbon dioxide is a colorless, odorless gas produced by burning carbon and organic compounds and by respiration. It is naturally present in air and is absorbed by plants in photosynthesis.

Phosphoglyceraldehyde (PGAL)

A three-carbon sugar molecule involved in the Calvin cycle of photosynthesis and also in glycolysis, a key step in cellular respiration.

Sugar Production

The process of extracting or synthesizing sugar from various sources for consumption.

Engelmann's Experiment

An experiment by Theodor Engelmann using a prism and algae to demonstrate the wavelength of light that photosynthesis is most efficient.