If Your Friend Says,"I Am Never Going to Buy Another

question 32

Multiple Choice

If your friend says,"I am never going to buy another Avicii remix again!" his price elasticity of demand for Avicii remixes is:

• A) perfectly elastic.
• B) perfectly inelastic.
• C) elastic.
• D) inelastic.
• E) unitary elastic.

---

Definitions:

Descriptive Theory

A theory that aims to accurately describe how certain phenomena occur or exist in reality.

Discrepancy

A divergence or difference between two or more items, situations, or values, often leading to a realization of a problem or a gap that needs addressing.

Effective

The degree to which something achieves its intended result, outcome, or goal with a minimum of wasted effort or expense.

Prescriptive Theories

Prescriptive theories offer specific recommendations or guidelines for actions, aiming to produce desired outcomes based on established principles or empirical findings.