Suppose One Market Demand (D₁)has a Price Elasticity of

question 141

Multiple Choice

Suppose one market demand (D₁) has a price elasticity of .65 and a second market demand (D₂) has a price elasticity of .89.In comparing price elasticities of demand,it is proper to say that

• A)D₂ is elastic compared to D₁.
• B)D₂ is inelastic compared to D₁.
• C)D₂ is more inelastic than D₁.
• D)D₂ is more elastic than D₁.
• E)the elasticity of D₁ and D₂ is the same.

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Definitions:

Oxides

Compounds composed of oxygen and another element, which can form minerals and play significant roles in geological processes.

Hematite

Hematite is an iron oxide mineral and one of the main iron ores, characterized by its reddish-black color, metallic or earthy luster, and used as an important source of iron.

Element O

Element O refers to Oxygen, a chemical element with the symbol O and atomic number 8, essential for life and a major part of the Earth's atmosphere.

Fractured

Refers to the breaking or cracking of a material or surface, often seen in rocks or geological structures.