The Demand for a Good Is Elastic with Respect to Price

question 62

Multiple Choice

The demand for a good is elastic with respect to price if the price elasticity of demand is:

• A)equal to one.
• B)greater than one.
• C)less than one.
• D)equal to zero.

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Definitions:

Rhomboideus Group

A collection of muscles in the upper back that connect the spine to the scapula, important for shoulder blade movement.

Trapezius Group

A major muscle group in the upper back and neck that supports arm and shoulder movements and extends the neck.

Acromiotrapezius

A muscle in some mammals that extends from the neck and back to the scapula, aiding in movements of the shoulder.

Clavotrapezius

Clavotrapezius, in certain animals like rodents, is a muscle that extends from the clavicle to the scapula, facilitating movement of the scapula and contributing to the posture of the upper body.