If the Absolute Price Elasticity of Demand for a Product

question 42

Multiple Choice

If the absolute price elasticity of demand for a product is less than 1, then

• A) consumers are relatively sensitive to price changes.
• B) consumers are relatively insensitive to price changes.
• C) there is a positive relationship between price changes and the quality of the product.
• D) producers are relatively insensitive to price changes.

---

Definitions:

Perimenopause

The transitional phase leading up to menopause, marked by changes in menstrual cycle and other symptoms due to fluctuating hormone levels.

Menarche

The first occurrence of menstruation in a female, signifying the onset of reproductive capability.

Amenorrhea

The absence of menstruation in a woman of reproductive age, which can be a symptom of various health conditions.

Menstrual Period

The phase in a woman's menstrual cycle during which bleeding from the uterus occurs through the vagina, marking the shedding of the uterine lining.