The Amount of Pulp and Paper Products That MacMillan Bloedel

question 121

Multiple Choice

The amount of pulp and paper products that MacMillan Bloedel manufactures is influenced by consumer demand for newspapers, Pizza Pizza's "keep warm" pizza-to-go boxes, Federal Express packages, and disposable diapers. This is an example of:

• A)the price-quality relationship.
• B)price elasticity.
• C)the acceleration principle.
• D)derived demand.

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Definitions:

Price Elasticity of Demand

A measure of the responsiveness of the quantity demanded of a good to a change in its price.

Bushel of Wheat

A unit of measure for volumes of dry commodities, typically used in agriculture for wheat, equivalent to approximately 35.24 liters.

Vertical Axis

In a graph or chart, the y-axis, which is perpendicular to the horizontal axis and usually represents the dependent variable in an equation or data set.

Market for Coffee

The global or local marketplace in which coffee, as a commodity, is traded among buyers and sellers.