If Demand for a Good Is Elastic, Then the Price

question 68

Multiple Choice

If demand for a good is elastic, then the price elasticity will be:

• A) equal to one.
• B) equal to zero.
• C) greater than one.
• D) less than one.

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Definitions:

Mucosal Layer

The damp internal surface of certain organs and bodily cavities, including the stomach, lungs, nose, and mouth.

Small Intestine

A part of the digestive system where the majority of digestion and absorption of nutrients occurs; it is made up of the duodenum, jejunum, and ileum.

Large Intestine

The final section of the digestive system, responsible for water absorption and the formation of feces.

Esophagus

A muscular tube that connects the throat (pharynx) with the stomach, conveying food and liquids.