Use the Following to Answer Questions

question 13

Multiple Choice

Use the following to answer questions
Scenario I
Examine Figure 2.1 and then answer the following questions.
-(Scenario I) Figure 2.1 illustrates a _____ correlation between variables A and B.

• A)moderate positive
• B)moderate negative
• C)perfect positive
• D)perfect negative

---

Definitions:

Demand Schedule

A table that shows the quantity of a good or service that consumers are willing to buy at various prices.

Coefficient of Price Elasticity

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

Demand Schedule

A table or graph showing the quantity of a product or service demanded at various prices.

Imperfectly Competitive Firm

A business operating in a market where it has some control over the price of its product because competition is not completely intense.