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

question 97

Multiple Choice

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

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

---

Definitions:

Number Of Visitors

Refers to the count of individuals visiting a particular place or website within a specified time frame.

Checked-out Books

Books that have been borrowed from a library or other lending institution, indicating they are currently in use by patrons.

Dotplot

A statistical chart consisting of data points plotted on a simple scale, used to visualize the distribution of a dataset.

Midterm Results

The outcomes or scores obtained from exams or evaluations conducted halfway through an academic term.