If Demand Is Price Elastic, a Change in Price in Either

question 67

Multiple Choice

If demand is price elastic, a change in price in either direction (up or down) causes:

• A) a change in total revenue in the opposite direction.
• B) a change in total revenue in the same direction.
• C) no change in total revenue.
• D) an increase in total revenue.

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Definitions:

Homozygous Recessive

Referring to an individual carrying two copies of a recessive allele for a particular trait, which will be expressed in the organism's phenotype.

Dominant Trait

A genetic trait that is expressed in an organism even when only one copy of the gene responsible for the trait is present.

CFTR Gene

A gene that provides instructions for making a protein that acts as a channel for the movement of chloride ions across cell membranes, mutations of which can lead to cystic fibrosis.

Chloride Ions

Negatively charged ions (Cl-) that are typically found in extracellular fluid and play critical roles in the body's electrolyte balance.