Demand Is Inelastic Only If the Price Elasticity of Demand

question 9

Multiple Choice

Demand is inelastic only if the price elasticity of demand has an absolute value:​

• A)of 1.
• B)greater than 1.
• C)greater than 0 but less than 1.
• D)greater than 0.
• E)greater than 5.

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Definitions:

Dormant Commerce Clause

A restriction on states’ authority that is implied in the commerce clause of the U.S. Constitution: The power given to Congress to enact legislation that affects interstate commerce in effect prohibits a state from passing legislation that improperly burdens interstate commerce.

Interstate Commerce

Interstate Commerce refers to the buying, selling, or moving of goods, services, or money across state borders, regulated by the federal government.

Gun-Free School Zone Act

Federal legislation in the United States that prohibits the unauthorized possession of firearms in designated school zones.

Commerce Clause

A provision in the United States Constitution that grants Congress the power to regulate trade between states, with foreign nations, and among Indian tribes.