The Actual Value of the Price Elasticity of Demand Is

question 320

Multiple Choice

The actual value of the price elasticity of demand is always

• A) positive because of the law of demand.
• B) negative because of the law of demand.
• C) positive because of diminishing marginal utility.
• D) negative because percentages can only be negative.

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Definitions:

Cross-Cutting Relations

A geological principle stating that any geologic feature that cuts across another feature must be younger than the feature it cuts.

Inclusions

Pieces of one rock unit that are enclosed within another rock unit, often used in geology to determine the relative age of rock layers.

Original Horizontality

A principle stating that sedimentary rocks are deposited in horizontal or nearly horizontal layers under the action of gravity.

Superposition

A principle that states in an undisturbed sequence of rocks, layers of rock were deposited in order from bottom to top according to their age, with the oldest at the bottom and the youngest at the top.