What happens to elasticity as price increases?

What happens to elasticity as price increases? The more discretionary a purchase is, the more its quantity of demand will fall in response to price rises. That is, the product demand has greater elasticity. But the less discretionary a product is, the less its quantity demanded will fall. When demand is elastic a price decrease […]

Is it ever OK to exceed the speed limit?

Is it ever OK to exceed the speed limit? According to the California basic speed law, drivers cannot exceed a safe speed for the current road and weather conditions. Is it ever permissible to drive faster than the speed limit? According to the law you may not drive faster than is reasonably safe for road […]

How is biology related to psychology?

How is biology related to psychology? The biological perspective is a way of looking at psychological issues by studying the physical basis for animal and human behavior. It is one of the major perspectives in psychology and involves such things as studying the brain, immune system, nervous system, and genetics. What is the biopsychosocial approach […]

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