If the Price of a Good Decreases by 5% and the Quantity

question 143

Multiple Choice

If the price of a good decreases by 5% and the quantity demanded increases by 10%, then at that price, the good is

• A)elastic.
• B)inelastic.
• C)perfectly inelastic.
• D)perfectly elastic.

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Definitions:

Health Risks

Potential factors or behaviors that can lead to illness or adverse health outcomes.

Sneezes and Coughs

Reflex actions that clear the respiratory passages of irritants and secretions, often indicative of an underlying health condition or response to environmental factors.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to a person's mind when evaluating a specific topic, concept, method, or decision.

World Hunger

The global situation characterized by the inability of a significant portion of the world's population to access sufficient food for a healthy and active life.