The Price of Furnace Filters Increased by 5 Percent and the Quantity

question 90

Multiple Choice

The price of furnace filters increased by 5 percent and the quantity demanded did not change.The price elasticity of demand for furnace filters is

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

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Definitions:

Word-Superiority Effect

The phenomenon where words are more easily and accurately recognized than individual letters or non-words in perception tasks.

Letters

Written symbols representing sounds in a language, forming the building blocks of words.

Screen

A term broadly used to describe a barrier or surface on which images or data are displayed, as well as the process of evaluating or testing something.

Word-Superiority Effect

The phenomenon that words are easier to perceive and recognize accurately than individual letters or non-words, highlighting the influence of contextual knowledge in perception.