Moving Along the Inelastic Portion of a Demand Curve, a Large

question 159

True/False

Moving along the inelastic portion of a demand curve, a large percentage change in price leads to a smaller percentage change in quantity demanded.

---

Definitions:

Linear Equations

Equations that depict lines in a coordinate system and can be written in the form \(y = mx + b\), where \(m\) is the slope and \(b\) is the y-intercept.

System

A set of principles or procedures according to which something is done; in mathematics, often refers to a set of equations or inequalities.

Elimination

A method used in algebra to solve systems of equations by removing variables to find their values.

Linear Equations

Equations between two variables that produce a straight line when graphed on a Cartesian coordinate system.