If Electricity Prices Rise Substantially but Quantity Demanded Does Not

question 51

Multiple Choice

If electricity prices rise substantially but quantity demanded does not decrease very much, then electricity is probably:

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

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Definitions:

Adaptive Radiation

An evolutionary process in which organisms diversify rapidly into a multitude of new forms, particularly when a change in the environment makes new resources available or opens new niches.

Temporal Isolation

A mechanism of reproductive isolation where two species mate or flower at different times, preventing crossbreeding.

Reproductive Isolation

A set of mechanisms that prevent different species from interbreeding.

Ecological Isolation

A form of reproductive isolation where different species live in the same area but occupy different habitats, preventing them from mating and producing offspring.