Explain Why When the Demand Curve for a Good Is

question 71

Essay

Explain why when the demand curve for a good is elastic,a one percent reduction in the price of the good will increase a consumer's expenditure on the good.

---

Definitions:

Synapse

The junction between neurons that permits a signal to pass from one neuron to the next.

Neurotransmitter

Chemical substances in the nervous system that transmit signals across a neuronal synapse between neurons or from neurons to muscles.

Somatic Nervous System

Part of the peripheral nervous system associated with voluntary control of body movements through action of skeletal muscles.

Central Nervous System

The part of the nervous system consisting of the brain and spinal cord, which integrates information received from the body and directs activity.