If a Good Has a Less Elastic Demand Curve

question 65

Multiple Choice

If a good has a less elastic demand curve:

• A)then a small percentage change in price will cause a large change in quantity demanded.
• B)then any percentage change in price will take a long time to cause a response in quantity demanded.
• C)then a large percentage change in price will cause a small change in quantity demanded.
• D)then any percentage change in price will cause an almost immediate response in quantity demanded.

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Definitions:

Sensory Memory

The shortest-term element of memory, which allows individuals to retain impressions of sensory information after the original stimulus has ceased.

Rehearsal

A cognitive process of actively reviewing or practicing information to enhance memory and recall.

Sensory Memory

The shortest-term element of memory, where sensory information is stored for a very brief period.

Capacity

The maximum amount that something can contain or the ability to perform, understand, or absorb something.