If the Percentage Change in Quantity Is Less Than the Percentage

question 241

True/False

If the percentage change in quantity is less than the percentage change in price, demand is said to be price inelastic.

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Definitions:

Rational-emotive Behavior Therapy

A form of psychotherapy that identifies irrational beliefs, challenges these beliefs, and encourages the adoption of more rational and realistic thinking.

Cognitive Therapy

A type of psychological therapy that involves identifying and challenging negative thought patterns to alter unwanted behavior patterns or treat mood disorders.

Pathological Behavior

Actions or behaviors that are extreme or abnormal, often indicating the presence of a psychological disorder or disease.

Past Conditioning

The influence of previous experiences and learned behaviors on an individual's current actions and reactions.