Which of the Following Would Most Likely Trigger a Price

question 46

Multiple Choice

Which of the following would most likely trigger a price increase?

• A) cost inflation
• B) reduced demand
• C) cheaper alternatives
• D) reduced expenses
• E) overproduction

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Definitions:

Elasticity of Demand

A measure of how the quantity demanded of a good or service changes in response to a change in its price.

Senior-Citizen Discounts

Reduced prices offered to elderly customers, typically those who have reached a specified age, as a benefit or marketing tool.

Cash Rebates

A refund or discount on the purchase price of a product or service, often used as a promotional tactic by retailers and manufacturers.

Software Upgrade

The process of replacing an existing software with a newer or better version to improve functionality or fix issues.