When a Demand Curve Is Price Inelastic

question 58

Multiple Choice

When a demand curve is price inelastic

• A) a reduction in price increases the amount spent on the good.
• B) the quantity demanded will increase even if price remains constant.
• C) a 1 percent increase in price will result in a less than 1 percent decrease in the quantity demanded.
• D) the change in quantity will always be greater than the change in price.
• E) demand must be falling.

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Definitions:

Reaction

A process in which one or more substances, the reactants, are converted to one or more different substances, the products, via a chemical change.

Dilute Acid

An acid solution that has a low concentration of hydrogen ions compared to its amount of solvent, typically water.

Protonation

The addition of a proton (H+) to an atom, molecule, or ion, usually resulting in a positively charged species.

Equivalents

A measure in chemistry indicating the amount of a substance that reacts with a defined amount of another in a chemical reaction.