Assume a Change in Price Causes the Price Elasticity of Demand

question 48

Multiple Choice

Assume a change in price causes the price elasticity of demand for a good (in absolute value) and marginal revenue to decrease.In this case we can conclude that the price of the good was:

• A)increased.
• B)held constant.
• C)decreased.
• D)cannot be determined.

---

Definitions:

Personality Trait

a consistent pattern of thoughts, emotions, and behaviors that distinguish one individual from another.

Achievement Motivated

A person's drive to pursue and meet goals through hard work and effort.

Questionnaire Self-reports

A method of data collection where participants provide responses to questions on a questionnaire about themselves, often used in research settings.

Personality

The combination of characteristics or qualities that form an individual's distinctive character, influencing their behaviors, thoughts, and emotions.