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

question 126

Multiple Choice

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

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

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Definitions:

Tropical Rain Forest

A dense, warm, wet forest found near the equator, known for its biodiversity and high rainfall.

Headwaters

Headwaters are the source or uppermost reaches of a river or stream, often located in high elevation areas or mountainous regions.

Fast Flow

Refers to rapid movement of liquids, gases, or other substances, often observed in natural processes and engineered systems.

High Oxygen

Refers to environments or conditions where the concentration of oxygen is above the normal atmospheric level, influencing various biological processes.