If the Price of the Product Falls by Five Percent

question 69

Multiple Choice

If the price of the product falls by five percent and the volume of sales increases by eight percent,the demand for the product is

• A) Price elastic
• B) Price inelastic
• C) Price volatile
• D) Price subjective

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Definitions:

Emotional Occur

The manifestation or experience of emotions, which can be triggered by thoughts, events, or interactions.

Instrumental Assistance

Practical support provided to someone, typically involving tasks and actions rather than emotional support, such as help with household chores or running errands.

Tangible Help

Practical assistance provided in the form of goods, services, or physical actions, as opposed to advice or emotional support.

Prosocial Behavior

Positive actions aimed at benefiting others, including behaviors like helping, sharing, donating, cooperating, and volunteering.