The Price Elasticity of Demand Measures

question 76

Multiple Choice

The price elasticity of demand measures

• A)buyers' responsiveness to a change in the price of a good.
• B)the extent to which demand increases as additional buyers enter the market.
• C)how much more of a good consumers will demand when incomes rise.
• D)the movement along a supply curve when there is a change in demand.

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Definitions:

Pyrolysis

The chemical decomposition of a substance through the application of heat, in the absence of oxygen.

Law of Conservation

A principle stating that mass in an isolated system is neither created nor destroyed by chemical reactions or physical transformations.

Energy

The capacity to do work or produce change, existing in forms such as heat, kinetic energy, potential energy, and electrical energy.

Calorimeter

An apparatus used for measuring the amount of heat involved in chemical reactions or physical changes as well as heat capacity.