If the Price of a Good Falls by 10% and the Percentage

question 55

Multiple Choice

If the price of a good falls by 10% and the percentage decrease in the total amount consumers spend on the good is 5% then the good is

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

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Definitions:

Threatened

A conservation status that indicates a species is likely to become endangered within the foreseeable future across all or a significant portion of its range.

Endangered

Refers to species at risk of extinction due to a significant decline in their population or habitat.

Biotic Pollution

The negative impact on ecosystems and native species caused by the introduction and spread of invasive organisms.

In Situ Conservation

Conservation efforts that concentrate on preserving biological diversity in the wild.