If the Local Electricity Utility Wants to Raise Revenue,it Should

question 14

Multiple Choice

If the local electricity utility wants to raise revenue,it should _______ its price because demand for electricity is likely to be ________.

• A) lower;inelastic
• B) raise;elastic
• C) lower;elastic
• D) raise;inelastic
• E) lower;perfectly inelastic

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Definitions:

Protestant Ethic

The concept introduced by Max Weber suggesting that the Calvinist emphasis on hard work, thrift, and efficiency in one's worldly calling was a driving force behind the development of capitalism.

God's Chosen

A belief held within some religious groups that they have been specifically chosen by a divine power for a particular purpose.

Works Hard

Exerting significant effort or diligence in performing tasks or achieving goals.

Eclectic Synthesis

The process of combining elements from various theories, styles, or ideas to form a coherent whole.