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:

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The action or process of becoming greater in size, number, value, or amount.

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The theory that much of what is perceived as reality is shaped by the shared beliefs and attitudes of a society.