If the Quantity Demanded of a Certain Good Responds Only

question 263

Multiple Choice

If the quantity demanded of a certain good responds only slightly to a change in the price of the good,then the

• A)demand for the good is said to be elastic.
• B)demand for the good is said to be inelastic.
• C)law of demand does not apply to the good.
• D)demand curve for the good shifts only slightly in response to a change in price.

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Definitions:

Disgust

Disgust is a strong sensation of revulsion or profound disapproval aroused by something unpleasant or offensive.

Sadness

An emotional state characterized by feelings of disappointment, grief, or hopelessness.

Surprise

An emotional response to an unexpected or unforeseen event, often characterized by a sudden change in physiological and cognitive states.

Force Yourself

To make oneself do something difficult or unpleasant that one may not want to do.