The continental shelf is an underwater landmass which extends from a continent, resulting in an area of relatively shallow water known as a shelf sea.Much of the shelves were exposed during glacial periods and interglacial periods.The shelf surrounding an island is known as an insular shelf.The continental margin, between the continental shelf and the abyssal plain, comprises a steep continental slope followed by the flatter continental rise.Sediment from the continent above cascades down the slope and accumulates as a pile of sediment at the base of the slope, called the continental rise.he shelf surrounding an island is known as an insular shelf. The continental margin, between the continental shelf and the abyssal plain, comprises a steep continental slope followed by the flatter continental rise.
Price elasticity is a measure of the responsiveness of demand or supply of a good or service to changes in price. The price elasticity of demand measures the ratio of the proportionate change in quantity demanded to the proportionate change of the price . The price elasticity of supply is analogous.
1.The price elasticity of demand is: a) the ratio of the percentage change in quantity demanded to the percentage change in price. b) the responsiveness of revenue to a change in quantity. c) the ratio of the change in quantity demanded divided by the change in price. d) the response of revenue to a change in price.2.If demand is price elastic, then: a) a rise in price will raise total revenue. b) a fall in price will raise total revenue. c) a fall in price will lower the quantity demanded.. Suppose we know that the price elasticity of demand of good X is equal to -1.2. Then, if its price will increase by 5%, we can predict with certainty that. a) quantity demanded of that good will increase.