If the Price Elasticity of Demand for Good a Is

question 126

Multiple Choice

If the price elasticity of demand for good A is -1, then a 1% increase in

• A) consumer income will result in a 1% decrease in the demand for good A.
• B) consumer income will result in a 1% increase in the demand for good A.
• C) the market price of good A will result in a 1% increase in the quantity demanded of good A .
• D) the market price of good A will result in a 1% decrease in the quantity demanded of good A .

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Definitions:

Motor Neurons

Nerve cells forming part of a pathway along which impulses pass from the brain or spinal cord to a muscle or gland.

Absolute Refractory Period

A time interval after an action potential during which another action potential cannot be initiated, regardless of the strength of the stimulus.

Millivolts

A unit of electric potential equal to one thousandth of a volt, commonly used in measuring the strength of electrical signals.

Electrical Charge

A physical property that causes matter to experience a force when placed in an electromagnetic field.