When the Percentage Change in the Quantity Demanded Is Less

question 283

Multiple Choice

When the percentage change in the quantity demanded is less than the percentage change in price,then demand is

• A) inelastic.
• B) unit elastic.
• C) elastic.
• D) irrelevant.
• E) undefined.

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Definitions:

Compelling Government Purpose

A legal concept referring to a reason the government may use to justify the imposition of restrictions that might otherwise infringe on individual rights, provided it is necessary for a significant public goal.

Separation of Powers

A foundational principle of governance where the state's responsibilities are divided among different branches, typically the legislative, executive, and judicial branches, to prevent the concentration of power.

Federal Courts

Courts established by the federal government of a country, with the authority to hear disputes that fall under federal law or involve parties from different states.

Interstate Commerce

Involves trade, traffic, or transportation of goods or services across state lines within the United States.