When a Good Has a Unitary Price Elasticity, Consumer Expenditures

question 15

Multiple Choice

When a good has a unitary price elasticity, consumer expenditures for the good

• A) change in the same direction as a price change.
• B) change in the opposite direction to a price change, but not necessarily by the same percentage as the price change.
• C) do not change when the price of the good decreases.
• D) change in the opposite direction and by the same percentage as any price change.

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Definitions:

Executive Function

Executive Function refers to a set of cognitive processes that are necessary for the cognitive control of behavior, including working memory, flexible thinking, and self-control.

Agent Self

The aspect of an individual that is involved in making decisions and taking actions, emphasizing agency and self-control.

Public Self

The aspect of an individual's self-concept that is concerned with the image they present in social contexts.

Self-Regulation

The process people use to control and change their thoughts, feelings, and behaviors.