If Household Expenditures on Electricity Remain Constant When the Price

question 23

Multiple Choice

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

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

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Definitions:

Passive

A term describing a lack of action or initiative, often allowing things to happen without trying to change the outcome.

Negative Client Feedback

Criticisms or expressions of dissatisfaction from clients regarding a service or product.

Marketing Department

A division within a company responsible for developing and implementing strategies to promote and sell the company's products or services.

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