The Higher the Price Elasticity the

question 25

Multiple Choice

The higher the price elasticity the

• A) the more sensitive price changes is to quantity demanded
• B) the less sensitive price changes is to quantity demanded
• C) the more sensitive quantity demanded to price changes
• D) the less sensitive quantity demanded to price changes

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Definitions:

Real Number Line

A line that graphically represents all possible real numbers, both positive and negative, including integers and fractions.

Ascending Order

Arranging numbers or other elements in a sequence from the smallest to the largest value.

Approximate

To approximate means to find a value close to the exact answer, often through estimation or rounding.

Real Number

A value that represents a quantity along a continuous line, including both rational and irrational numbers.