Elasticity Is a Measure of the Responsiveness of Change in Quantity

question 205

True/False

Elasticity is a measure of the responsiveness of change in quantity demanded to a change in price.

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Definitions:

Gastropods

A class of mollusks typically having a one-piece coiled shell and including snails, slugs, and whelks, which are primarily marine, but also found in freshwater and terrestrial environments.

Gastrovascular Cavity

A central cavity in certain simple organisms, such as cnidarians, serving both digestive and circulatory functions.

Tentacle

Flexible, often elongated appendages found in some animals, like octopuses and jellyfish, used for sensation, locomotion, and feeding.

Cnidarians

Cnidarians are a phylum of aquatic invertebrates that include jellyfish, corals, and sea anemones, characterized by a simple body plan with a mouth surrounded by tentacles.