Figure 7-1 Figure 7-1 Depicts a Demand Curve with a Price Elasticity

question 148

Multiple Choice

Figure 7-1
Figure 7-1 depicts a demand curve with a price elasticity that is

• A) perfectly elastic, implying that consumers will purchase as much as can be supplied at the market price.
• B) relatively inelastic, implying that a percent increase in price results in a smaller percent reduction in sales.
• C) unitary, implying that a percent change in price leads to an equal percent change in quantity demanded.
• D) perfectly inelastic, implying that the same amount will be purchased regardless of the price of the good.

Recognize the contributions of specific ancient cities to the development of civilization.

Appreciate the technological and social innovations of ancient cities.

Understand the role of trade, warfare, and agriculture in ancient and modern cities.

Describe the methods and purposes of recordkeeping and communication in ancient civilizations.

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An illustrative diagram or chart that is provided to complement or detail the information described in text.