You Own a Small Store

question 3

Multiple Choice

You own a small store. Your cashier thinks you should raise prices to increase your total revenue and your customer thinks you should lower prices to increase your total revenue. The cashier thinks the price elasticity of demand is ________ and the customer believes the price elasticity of demand is ________.

• A) elastic; inelastic
• B) unit elastic; elastic
• C) inelastic; inelastic
• D) elastic; elastic
• E) inelastic; elastic

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Definitions:

Ambitious

Having a strong desire for success or achievement; showing willingness to strive for its accomplishment.

Hard-driving

Characterized by aggressive vigor or energy, especially in the pursuit of goals and objectives.

Unfulfilled By Job

Experiencing dissatisfaction or a lack of fulfillment from one's job, often leading to disengagement and seeking change or advancement.

Frequency Of Sexual Activity

The rate or number of occurrences of sexual acts between individuals within a specified period of time.