If a Large Percentage Change in Price Leads to a Smaller

question 123

Multiple Choice

If a large percentage change in price leads to a smaller percentage change in quantity demanded, the good has a

• A) very elastic demand.
• B) less elastic demand.
• C) low magnitude of response.
• D) high magnitude of response.

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Definitions:

Drinking Water

Water that is safe for consumption by humans and other living organisms without risk of health effects.

Sanitation Services

Public services that manage waste disposal, sewage, and cleanliness to maintain public health and environmental standards.

Racism

Prejudice, discrimination, or antagonism directed against individuals or groups based on their race or ethnicity.

Drug Addiction

A chronic disorder characterized by the compulsive use of drugs despite harmful consequences, leading to significant impairment or distress.