If the Percentage Change in Quantity Demanded Is Less Than

question 204

Multiple Choice

If the percentage change in quantity demanded is less than the percentage change in price for good Y, then the demand for good Y is

• A)inelastic.
• B)unit elastic.
• C)elastic.
• D)perfectly elastic.

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Definitions:

Switch Row/Column Command

A function in spreadsheet software that allows the user to switch the positions of rows and columns, often used for better data visualization.

Vertical Axis

The y-axis in a chart or graph, typically displaying numerical values that are measured against the horizontal axis.

Axis Titles

Labels used in graphs and charts to describe the data represented by the X-axis and Y-axis.

Table Cells

The individual units in a table where a row and a column intersect, commonly used to enter and display data.