If the Demand for a Good Is Unit Elastic, Then

question 48

Multiple Choice

If the demand for a good is unit elastic, then a 5 percent increase in price results in

• A)a 5 percent increase in total revenue.
• B)a 5 percent decrease in total revenue.
• C)no change in total revenue.
• D)an increase in total revenue greater than 5 percent.
• E)an increase in total revenue less than 5 percent.

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Definitions:

Quality Day Care

Childcare services that meet high standards in safety, health, education, and staff qualifications, positively impacting a child's development and well-being.

Gender-role Awareness

The understanding and recognition of society's expectations and norms for behavior based on one's identified or perceived gender.

Gender Identity

An individual’s personal sense of their own gender, which may or may not correspond with their birth sex.

Gender Constancy

The understanding that one's gender identity is fixed and constant, regardless of external changes or societal expectations.