An Arrival in a Queue That Reneges Is One Who

question 131

Multiple Choice

An arrival in a queue that reneges is one who

• A)after joining the queue,becomes impatient and leaves.
• B)refuses to join the queue because it is too long.
• C)goes through the queue,but never returns.
• D)jumps from one queue to another,trying to get through as quickly as possible.
• E)None of the above

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Definitions:

Relatively Inelastic

Describes a situation where the demand or supply for a good or service changes only slightly in response to changes in price.

Price Elastic

Refers to a situation where the demand or supply for a product or service significantly changes in response to its price change.

Soft Drinks

Non-alcoholic beverages that are usually carbonated and contain various flavorings and sweeteners.

Price Elasticity

A measure of the responsiveness of the quantity demanded or supplied of a good or service to a change in its price.