When a Large Percentage Change in Price Causes a Small

question 4

Multiple Choice

When a large percentage change in price causes a small percentage change in the quantity demanded,we say that they have a:

• A)very elastic demand.
• B)less elastic demand.
• C)low magnitude of response.
• D)high magnitude of response.

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Definitions:

Good Health

A state of complete physical, mental, and social well-being, and not merely the absence of disease or infirmity.

Social Rejection

The act of being deliberately excluded or ostracized from a social group or interaction.

Emotional Reaction

A spontaneous response involving feelings and emotions triggered by an external event or internal thought process.

Numbness

A lack of physical sensation or emotional response, often as a reaction to shock or trauma.