Demand Is Said to Have Unit Elasticity If the Price

question 137

Multiple Choice

Demand is said to have unit elasticity if the price elasticity of demand is

• A)less than 1.
• B)greater than 1.
• C)equal to 1.
• D)equal to 0.

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Definitions:

Parietal Cells

Cells located in the lining of the stomach that secrete hydrochloric acid and intrinsic factor.

Chief Cells

Cells found in the stomach lining that secrete pepsinogen, an enzyme precursor important for digestion of proteins.

Endocrine Cells

Cells that produce hormones and release them directly into the bloodstream to regulate various bodily functions.

Deglutition

The act of swallowing, a complex process that moves food or liquid from the mouth through the pharynx and into the esophagus.