A Demand Relationship in Which a Given Percentage Change in Price

question 344

Multiple Choice

A demand relationship in which a given percentage change in price will result in a larger percentage change in quantity demanded is

• A) elastic.
• B) unit-elastic.
• C) inelastic.
• D) consistent with zero elasticity.

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Short for “not in my back yard”; originally referred to protests aimed at shifting undesirable activities onto those with less power; now sometimes used without negative connotations to describe local environmental activists.

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