The Value of the Absolute Price Elasticity of Demand for Good

question 141

Multiple Choice

The value of the absolute price elasticity of demand for good A is 3. The absolute price elasticity for good B is 2. Which good's quantity demanded is less responsive to a change in price?

• A) Good A
• B) Good B
• C) They are equally responsive.
• D) Not enough information is given.

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Definitions:

Fixed Size

Describes a data structure or container whose size cannot change after its creation, limiting the addition or removal of elements.

ArrayList Object

An object of a resizable array implementation class in programming, allowing for dynamic arrays that can grow as needed.

RemoveObject Method

Not a specific method; however, in many programming languages, methods exist to remove objects from a collection or data structure.

ArrayList Class

A resizable array implementation of the List interface in Java, providing methods to manipulate the size of the array that holds the elements.