Assuming Price Elasticity of Demand Is Reported as an Absolute

question 37

Multiple Choice

Assuming price elasticity of demand is reported as an absolute value,a price elasticity of demand less than one indicates demand for the good is:

• A) elastic.
• B) inelastic.
• C) unitary elastic.
• D) unrelated to price.

---

Definitions:

Blue-Violet

A color in the spectrum visible to the human eye, located between blue and violet wavelengths.

Hue

The dimension of color that is determined by the wavelength of light; what we know as the color names blue, green, and so forth.

Brightness

A perception attribute of visual experience in which a source appears to emit or reflect a high level of light.

Color

A property of light as seen by people, resulting from the way objects absorb and reflect various wavelengths of light, interpreted by the eye and brain.