Demand Is Said to Be ____ When the Quantity Demanded

question 8

Multiple Choice

Demand is said to be ____ when the quantity demanded is very responsive to changes in price.

• A)​independent
• B)​inelastic
• C)​unit elastic
• D)​elastic

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Definitions:

Commission Rate

The percentage or fixed fee that is charged as commission for performing a service or transaction.

Base Salary

The initial rate of compensation that an employee receives, not including overtime, bonuses, or other extra pay.

Percentage Calculation

The mathematical process of determining the proportionate amount of a whole as a percentage.

Percentage Calculation

Percentage calculation involves determining the part of a whole in terms of 100, used for comparing proportions and expressing fractions.