If a Good Has a Highly Elastic Demand Curve,then

question 77

Multiple Choice

If a good has a highly elastic demand curve,then:

• A)a small percentage change in price will cause a large change in quantity demanded.
• B)a small percentage change in price will cause virtually no change in quantity demanded.
• C)a large percentage change in price will cause a small change in quantity demanded.
• D)any percentage change in price will cause an almost immediate response in quantity demanded.

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Definitions:

Hyphae

The long, branching filamentous structures of a fungus, which form the mycelium that is considered the vegetative part of the fungus.

Zygospore-Forming

Refers to a mode of sexual reproduction in some fungi where a zygospore, a thick-walled spore, is formed by the fusion of two haploid cells.

Bread Mold

A type of fungus that grows and feeds on bread, belonging to the Rhizopus species.

Water Mold

A class of microorganisms that are similar to fungi, thriving in wet environments and causing diseases in plants and animals.