A Good with a Price Elasticity of Demand Equal to .75

question 137

True/False

A good with a price elasticity of demand equal to .75 is described as price-inelastic.

---

Definitions:

Obsession

An obsession is a persistent, intrusive, and unwanted thought, urge, or image that causes significant anxiety or distress, often seen in disorders like obsessive-compulsive disorder (OCD).

Conditioned Stimulus

A previously neutral stimulus that, after becoming associated with an unconditioned stimulus, evokes a conditioned response.

Unconditioned Stimulus

In classical conditioning, a stimulus that naturally triggers a reflexive response without prior learning.

Agoraphobia

A fear of being in situations in which help might not be available or escape might be difficult or embarrassing.