If Household Expenditures on Electricity Remain Constant When the Price

question 1

Multiple Choice

If household expenditures on electricity remain constant when the price of electricity increases,the price elasticity for electricity is

• A)one (demand is unit elastic).
• B)exactly zero.
• C)greater than one (demand is elastic).
• D)less than one (demand is inelastic).
• E)not determinable from the information given.

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Definitions:

Cognitive-Behavioral

Referring to a psychotherapeutic approach that addresses dysfunctional emotions, behaviors, and cognitions through a goal-oriented, systematic procedure.

Short-Term

pertaining to or lasting for only a limited period of time; often contrasted with long-term.

Cognitive-Behavior Therapy

A therapeutic approach that aims to change negative patterns of thinking or behavior that contribute to an individual's struggles.

Maladaptive Behaviors

Actions or tendencies that are counterproductive to one's own welfare and may impede adjustment, personal growth, or functioning.