If the Demand for a Steak Is Unit Elastic, Then

question 218

Multiple Choice

If the demand for a steak is unit elastic, then

• A)the percentage change in quantity demanded is 1 percent greater than the percentage change in price.
• B)the percentage change in quantity demanded is equal to the percentage change in price.
• C)the percentage change in quantity demanded is 100 percent greater than the percentage change in price (in absolute value).
• D)quantity demanded does not respond to changes in price.

---

Definitions:

Micro Level

Pertaining to individuals or small groups, focusing on personal or immediate relationships or issues rather than larger societal structures.

Social Work Practice

The professional application of social work values, principles, and techniques to help individuals or communities enhance or restore their capacity for social functioning.

Types of Clients

Refers to the various groups of individuals or entities that seek the services or advice of professionals, differing in characteristics such as age, needs, or problems.

Ecomap

A graphical representation that shows an individual's or family's relationships to their social and community networks, highlighting the quality and strength of these ties.