Which of the Following Describes a Situation in Which Demand

question 186

Multiple Choice

Which of the following describes a situation in which demand must be elastic?

• A)The price of pens rises by 10 cents, and quantity of pens demanded falls by 50.
• B)The price of pens rises by 10 cents, and total revenue rises.
• C)A 20 percent increase in the price of pens leads to a 20 percent decrease in the quantity of pens demanded.
• D)Total revenue does not change when the price of pens rises.
• E)Total revenue decreases when the price of pencils rises.

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Definitions:

Cognitive Neuroscience

A branch of neuroscience that studies the biological processes and aspects that underlie cognition, with a focus on the neural connections in the brain involved in mental processes.

Cognition

The endeavor of acquiring knowledge and apprehension through intellectual activities, experiences, and the perception of senses.

States Of Consciousness

Different levels of awareness of one's environment and self, ranging from fully alert and aware to various stages of sleep and altered states.

Consciousness

Awareness of one's own existence, sensations, thoughts, surroundings, and experiences.