Demand Is Said to Be Inelastic If

question 48

Multiple Choice

Demand is said to be inelastic if

• A)buyers respond substantially to changes in the price of the good.
• B)demand shifts only slightly when the price of the good changes.
• C)the quantity demanded changes only slightly when the price of the good changes.
• D)the price of the good responds only slightly to changes in demand.

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Definitions:

Chlorination

The addition or substitution of chlorine in a molecule, commonly used in disinfection and organic synthesis processes.

Reactivity

A term describing how readily a substance undergoes chemical change, influenced by factors like chemical structure, surrounding environment, and energy barriers.

Electrophilic Aromatic Substitution

A chemical reaction in which an atom, typically a halogen, is substituted for a hydrogen atom on an aromatic ring, facilitated by an electrophile.

Drug Addiction

A chronic disease characterized by compulsive drug seeking and use, despite harmful consequences.