The Demand for a Necessity Whose Cost Is a Small

question 179

Multiple Choice

The demand for a necessity whose cost is a small portion of one's total income is

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

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Definitions:

Perceptual Adaptation

The ability of the body to adjust to an environment by filtering out distractions and focusing on important elements.

Retinal Disparity

The slight difference in the visual images that reach each eye, leading to the perception of depth and three-dimensional structure.

Interposition

A visual cue for depth perception, where one object partly covers another, indicating the former is closer to the observer.

Relative Luminance

A measure of the amount of light that is emitted, passed through, or reflected from an object, normalized to a scale from zero (perfect black) to one (perfect white).