Assuming Price Elasticity of Demand Is Reported as an Absolute

question 64

Multiple Choice

Assuming price elasticity of demand is reported as an absolute value, a price elasticity of demand of 1.2 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

---

Definitions:

Category 5 Tornado

The highest rating on the Enhanced Fujita scale, denoting a tornado with wind speeds exceeding 200 mph and capable of causing incredible destruction.

Community Mental Health

A sector of healthcare focusing on the diagnosis, treatment, and prevention of mental disorders within community settings.

Community Psychiatric Nurse

A specialized nurse who provides mental health care, support, and services to individuals in community settings rather than hospitals.

Basic Needs

Fundamental requirements essential for individuals to live a healthy and comfortable life, including food, water, shelter, and clothing.