If a 1% Change in Price Leads to a 0

question 60

Multiple Choice

If a 1% change in price leads to a 0.5% change in quantity demanded,then elasticity of demand is

• A)0.5.
• B)1.0.
• C)1.5.
• D)5.

---

Definitions:

United States Constitution

The supreme law of the United States, establishing the framework of the national government and defining the rights of citizens.

Existing Contracts

Legal agreements that are currently in force between parties, outlining rights and obligations of those parties.

Federalism

A system of government in which power is divided between a central authority and constituent political units.

Govern Authority

Pertains to the legal power or right held by a government body to regulate, control, or manage individuals, entities, or property.