If the Percentage Change in the Quantity Demanded Is Not

question 168

Multiple Choice

If the percentage change in the quantity demanded is not zero but is less than the percentage change in the price,demand is

• A) elastic.
• B) inelastic.
• C) unit elastic.
• D) perfectly elastic.
• E) perfectly inelastic.

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Definitions:

Spike

A sudden, sharp increase or peak in the magnitude of a variable, often used in the context of electrical voltage or signals.

Low Values

Refers to measurements or quantities that are significantly below average or expected levels.

Voltmeter

An instrument used for measuring electrical potential difference between two points in an electric circuit.

Analog Meter

A measuring instrument with a moving pointer that displays readings on a graduated scale, used for measuring physical quantities like voltage or current.