Exhibit 5-2 Based on the Information in Exhibit 5-2

question 209

Multiple Choice

Exhibit 5-2 Based on the information in Exhibit 5-2, the demand for the good is __________ and an increase in price from $40 to $60 per unit will __________ total revenue.

• A)unit elastic; increase
• B)elastic; decrease
• C)unit elastic; not change
• D)inelastic; increase

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Definitions:

Bananas

A tropical, crescent-shaped, yellow fruit that is soft and sweet when ripe, widely consumed and grown in humid regions around the world.

Aesthetic Importance

The value or significance of something based on its beauty or emotional impact, often related to the arts or nature.

Wildflowers

Wild plants that grow naturally without intentional human planting or cultivation.

Ecological Importance

The significance of a natural element or system in maintaining balance and supporting life in an ecosystem.