The Value of Price Elasticity of Demand for a Good

question 225

Multiple Choice

The value of price elasticity of demand for a good with no close substitutes

• A)will tend to be greater than -1
• B)will tend to be less than -1
• C)will tend to be equal to -1
• D)will tend to be equal to 0
• E)cannot be determined without more information

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Definitions:

Sponges

Simple aquatic animals with a porous body that water flows through, belonging to the phylum Porifera.

Nerve Fibers

Long, thin extensions from neurons that transmit nerve impulses to other cells.

Muscle Fibers

The cells of muscles that contract to produce movement. Muscle fibers are long, cylindrical cells that make up skeletal muscle.

Amoeboid Cells

Cells that move or feed by forming extensions of their cytoplasm, known as pseudopodia, typical of amoebas.