When Consumers Are Sensitive to Price Changes,_____ Occurs

question 55

Multiple Choice

When consumers are sensitive to price changes,_____ occurs.

• A) inelastic demand
• B) elastic supply
• C) elastic demand
• D) inelastic supply
• E) unitary elasticity

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Definitions:

Rough ER

A part of the endoplasmic reticulum with ribosomes attached to its surface, involved in protein synthesis and folding.

Smooth ER

A part of the endoplasmic reticulum that lacks ribosomes and is involved in lipid synthesis and detoxification processes.

Ribosomes

Cell organelles that function as the site of protein synthesis, reading the sequence of messenger RNA to create polypeptides and proteins.

Chloroplasts

Organelles found in the cells of green plants and photosynthetic algae, where photosynthesis takes place, converting light energy into chemical energy.