Elasticity Measures

question 204

Multiple Choice

Elasticity measures

• A)whether a price increase causes quantity demanded to increase or decrease
• B)the strength of an economy's tendency to recover from recession
• C)the responsiveness of decision makers to changes in prices, income, or other variables
• D)the profitability of investment in an industry
• E)the long-run flexibility of prices in the economy

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Definitions:

Quick Part

A feature in Microsoft Office applications allowing users to insert preformatted blocks of text or graphics into documents.

Portable Hard Drive

An external storage device that can be easily transported and connected to different computers for data access or backup.

AddressBlock Merge Field

A specific field used in document templating systems, like mail merge, to automatically insert address information.

Mail Merge

A feature in word processing applications that enables users to create a batch of documents that are personalized, by automatically filling in details from a database or a list.