Use Absolute Value Notation to Describe the Situation

question 59

Multiple Choice

Use absolute value notation to describe the situation. The elevation at the bottom of a mountain is 417 feet above sea level. The elevation at the top of the mountain is 2187 feet above sea level. What is the height of the mountain?

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Definitions:

Perfectly Inelastic

A situation where demand or supply does not change in response to a change in price.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of that good that consumers are willing and able to purchase at different prices.

Price Elasticity

The measure of how much the quantity demanded or supplied of a good changes in response to a change in its price. It reflects the sensitivity of consumers or producers to price changes.

Unit Price Elastic

A situation in which the percentage change in quantity demanded is equal to the percentage change in price, resulting in no change in total revenue.