Demand Is Inelastic If the Price Elasticity of Demand Is

question 171

Multiple Choice

Demand is inelastic if the price elasticity of demand is

• A)less than 1.
• B)equal to 1.
• C)greater than 1.
• D)equal to 0.

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Definitions:

Amino Acids

Organic compounds that serve as the building blocks for proteins, necessary for various bodily functions.

Electrolyte

Cation or anion in solution that conducts an electric current.

Electricity

A form of energy resulting from the existence of charged particles such as electrons or protons, either statically as an accumulation of charge or dynamically as a current.

Solution

A homogeneous mixture of two or more substances, where one substance (the solute) is dissolved in another (the solvent).