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

question 107

Multiple Choice

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

• A) elastic.
• B) inelastic.
• C) unitary elastic
• D) completely elastic
• E) completely inelastic

Understand the considerations before soliciting a lawyer's assistance in business decisions.

Explain the concept of contingency fee arrangements and their implications.

Recognize the circumstances under which clients might conduct their own legal research.

Appreciate the benefits of maintaining an ongoing relationship with a legal professional.