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

question 107

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 10% then the good is

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

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Definitions:

Ovulation

The phase in a female's menstrual cycle during which a mature egg is released from the ovary.

Follicle

In biology, a follicle can refer to a small secretory cavity or sac, specifically in the ovary where an ovum (egg) develops or in the skin where hair grows.

Hormones

Chemical messengers produced by glands in the body, which regulate physiological activities and maintain homeostasis.

Neurotransmitters

Chemicals that transmit signals across a synapse from one neuron to another neuron, muscle cell, or gland cell.