A Relatively Steep Demand Curve Indicates That

question 51

Multiple Choice

A relatively steep demand curve indicates that

• A)quantity demanded will adjust only slightly to a price change.
• B)quantity demanded will adjust significantly to a price change.
• C)quantity demanded will not adjust to a price change.
• D)the change in quantity demanded will exactly equal a change in price.

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Definitions:

Count

To determine the total number of objects in a group or series by assigning each one a consecutive number.

Attention Termination

The process of concluding or discontinuing focus on a specific object, task, or stimulus after a period of concentration.

Sustained Attention

The ability to focus cognitive activity on a specific object, task, or activity for a prolonged period of time without becoming distracted.

Stimulus Orienting

The act of focusing one's attention on a particular element within the surroundings.