If Demand Is Price Elastic

question 43

Multiple Choice

If demand is price elastic

• A) a 1 percent decrease in the price leads to an increase in the quantity demanded that exceeds 1 percent.
• B) a 1 percent increase in the price leads to an increase in the quantity demanded that exceeds 1 percent.
• C) a 1 percent decrease in the price leads to a decrease in the quantity demanded that is less than 1 percent.
• D) the price is very sensitive to any shift of the supply curve.

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Definitions:

Tickle

A sensation that refers to the involuntary twitching movement or laughter in response to a light touch or stroke.

Fasciculus Gracilis

A nerve fiber bundle in the posterior column of the spinal cord that conveys sensory information about fine touch and proprioception from the lower half of the body.

Fasciculus Cuneatus

A bundle of sensory nerve fibers in the dorsal column of the spinal cord that conveys touch and proprioceptive information.

Smooth

Characteristic of muscles that perform involuntary movements, found in the walls of internal organs.