The Demand Curve for Oil Is Inelastic, Meaning That the Quantity

question 179

Multiple Choice

The demand curve for oil is inelastic, meaning that the quantity of oil demanded:

• A) rises by a lot even when the price of oil increases by only a little.
• B) rises by only a little even when the price of oil increases by a lot.
• C) falls by a lot even when the price of oil increases by only a little.
• D) falls by only a little even when the price of oil increases by a lot.

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Definitions:

mRNA

Messenger RNA, which carries genetic information from DNA to the ribosome, where it serves as a template for protein synthesis.

AUG Codon

The mRNA codon that signals the start of protein synthesis, typically coding for the amino acid methionine in eukaryotes and a modified methionine in prokaryotes.

Translation

The process by which the sequence of bases in mRNA is used to direct the sequential addition of amino acids, building polypeptide chains in protein synthesis.

Initiated

Refers to the beginning or activation of a process, such as the start of a chemical reaction or the initiation of protein synthesis.