If Demand Changes Greatly with a Small Change in Price

question 99

Multiple Choice

If demand changes greatly with a small change in price, the demand is ________.

• A) variable
• B) inelastic
• C) derived
• D) elastic
• E) negative

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Definitions:

Begging the Question

A logical fallacy where the conclusion of an argument is assumed in one of the premises, essentially arguing in a circle without proving the initial point.

Equivocation

The misleading use of a term with more than one meaning or sense.

Switches Meaning

To change or alter the definition or perception of a word or phrase within a context.

Equivocation

The misleading use of a word with more than one meaning or sense, often to confuse or deceive.