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

question 30

Multiple Choice

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

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

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Definitions:

Formalizing Goals

The process of defining and establishing clear, measurable, and time-bound objectives to guide actions and measure accomplishments.

Work/Life Priorities

The balance or prioritization between professional obligations and personal life activities, aiming to achieve fulfillment and well-being in both areas.

Goal Setting

The practice of setting specific, measurable, achievable, relevant, and time-bound objectives.

Balance and Perspective

Maintaining a healthy equilibrium in various aspects of life or work while considering different viewpoints or aspects of a situation.