If the Price Elasticity of Demand Is Equal to 1

question 186

True/False

If the price elasticity of demand is equal to 1, then demand is unit elastic.

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Definitions:

Ventromedial Hypothalamus

A region of the brain that plays a critical role in regulating satiety, metabolism, and body weight.

Set Point

The point at which an individual’s “weight thermostat” is supposedly set. When the body falls below this weight, an increase in hunger and a lowered metabolic rate may act to restore the lost weight.

Body Weight

The quantitative measurement of the mass or heaviness of an individual's body, often used as an indicator of health status.

Lateral Hypothalamus

A region of the brain that plays a key role in hunger regulation and the initiation of eating behaviors as part of the hypothalamus.