A 05% Increase in the Price of a Particular Product Causes

question 44

Multiple Choice

A 0.5% increase in the price of a particular product causes the quantity demanded of the product to drop to zero.This means that the price elasticity of demand for the product is:

• A)moderately inelastic.
• B)highly inelastic.
• C)unitary elastic.
• D)perfectly inelastic.
• E)perfectly elastic.

---

Definitions:

Reticular Formation

A network of nerve pathways in the brainstem involved in consciousness and the regulation of sleep-wake cycles.

Selectively Attending

The process by which individuals focus on specific stimuli while ignoring others, allowing them to navigate and process information in a complex environment effectively.

Pons

The larger swelling above the medulla that relays information from the cortex to the cerebellum, and that plays a part in sleep, dreaming, left–right body coordination, and arousal.

Cerebellum

A region of the brain that plays a vital role in motor control, and it also contributes to coordination, precision, and accurate timing of movements.