The Price of Soccer Balls Increases from $35 to $40

question 126

Multiple Choice

The price of soccer balls increases from $35 to $40, and as a result, the quantity demanded decreases from 250 to 200. Over this price range,

• A) demand is elastic.
• B) demand is inelastic.
• C) demand is of unitary elasticity.
• D) there is insufficient information to determine the price elasticity of demand.

---

Definitions:

Problem Solve

The process of identifying a problem, finding viable solutions, and implementing them effectively.

Human Methods

Refers to approaches and techniques involving direct human interaction or effort in processes or studies.

Customer Equity

A ratio that compares the financial investments a company puts into gaining and keeping customers to the financial return on those investments.

CRM Program

Customer Relationship Management program; a strategy for managing an organization's interactions with current and potential customers using data analysis about customers' history with a company.