You Raised the Price of Your Good by 40% and the Quantity

question 61

Multiple Choice

You raised the price of your good by 40% and the quantity demanded declined by 40%. Demand is:

• A) completely elastic and a decline in price would have yielded a total revenue decrease.
• B) completely inelastic and a decline in price would have yielded a total revenue increase.
• C) unitary elastic and a decline in price would have yielded no change in total revenue.
• D) unitary elastic and a decline in price would have yielded a total revenue decrease.
• E) elastic and a decline in price would have yielded a total revenue increase.

Analyze the role of self-perception theories, such as self-awareness in explaining social facilitation effects.

Understand the concepts of social loafing, including the underlying mechanisms and ways to mitigate its impact in group settings.

Discriminate between types of group tasks and identify how each influences group performance and outcomes according to Steiner's taxonomy.

Understand the concept of social loafing and its effects on group performance.

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Definitions:

Investment Company Act

A federal law regulating the organization and activities of investment companies, primarily to protect investors from conflicts of interest and other abuses.

Regulation S-X

A regulation by the U.S. Securities and Exchange Commission that sets forth the form and content of financial statements required to be filed with the commission.

Regulation S-K

A regulation under the U.S. Securities Act that outlines reporting requirements for various SEC filings used by public companies.

Staff Accounting Bulletins (SABs)

Staff Accounting Bulletins (SABs) are issued by the SEC to provide guidance on accounting practices and disclosure requirements.