If a Large Percentage Drop in the Price Level Results

question 3

Multiple Choice

If a large percentage drop in the price level results in a small percentage increase in the quantity demanded,

• A)demand is inelastic.
• B)demand is elastic.
• C)demand is unit elastic.
• D)the price elasticity of demand is close to infinity.
• E)the price elasticity of demand is zero.

---

Definitions:

Specialized Jobs

Positions that focus on a narrow set of tasks, requiring specific skills and expertise, contributing to an organization's efficiency and effectiveness.

Training Costs

The expenses associated with improving employee skills and competencies through educational programs and activities.

Work Efficiency

The effectiveness with which tasks and activities are completed, often assessed in terms of speed, quality, and resource use.

Coordinating Mechanism

The methods, practices, or systems used to align and direct the diverse activities and resources of an organization towards achieving its goals.