If the Numerical Value of the Price Elasticity of Demand

question 103

Multiple Choice

If the numerical value of the price elasticity of demand is 3,then a one-percent change in price will cause a(n)

• A)larger percentage change in quantity demanded,so demand is elastic
• B)larger percentage change in quantity demanded,so demand is inelastic
• C)smaller percentage change in quantity demanded,so demand is elastic
• D)smaller percentage change in quantity demanded,so demand is inelastic
• E)equal percentage change in quantity demand,so demand is unitary elastic

---

Definitions:

Keating Owen

A 1916 United States federal law that sought to address child labor by prohibiting the sale of goods produced by factories that employed children under certain ages, later ruled unconstitutional.

Unconstitutional Expansion

The action or policy of expanding authority or territorial holdings in a manner that violates the constitutional law or principles of the governing body.

Child Labor Act

Legislation aimed at protecting children from exploitation in the workplace by setting minimum age requirements and regulating work hours and conditions.

Civil Liberties

Fundamental rights and freedoms protected from infringement by the government, such as freedom of speech and the right to privacy.