A Price Inelastic Demand Exists If a 10 Percent Change

question 206

Multiple Choice

A price inelastic demand exists if a 10 percent change in the price of a good results in a percentage change (in absolute value terms) in quantity demanded that is:

• A) less than 0.
• B) greater than 0 but less than 10.
• C) equal to 10.
• D) greater than 10.

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Definitions:

Neurotransmitter

A chemical within the vesicles of the synaptic knob that is released into the postsynaptic structures when a nerve impulse reaches the synaptic knob.

Synaptic knob

The expanded region at the end of an axon terminal, where neurotransmitters are released to communicate with other neurons or muscle cells.

Interneuron

A type of neuron that communicates only with other neurons, typically found within the central nervous system and plays a role in reflexes and neuronal circuits.

Arachnoid mater

A delicate membrane that is one of the three layers (meninges) surrounding the brain and spinal cord, providing protection.