At a Price of $3 Each, SHAPE Magazine Sells 1

question 179

Multiple Choice

At a price of $3 each, SHAPE magazine sells 1.25 million copies of its magazine targeted to young women seeking a healthier lifestyle. If the price per issue is increased to $3.25 each, only 1 million copies will be sold. For the information provided, the price elasticity of demand for SHAPE magazine in this price range can be described as:

• A)elastic demand.
• B)unitary demand.
• C)null elasticity.
• D)inelastic demand.

Identify appropriate nursing interventions for post-procedure care in gastrointestinal diagnostic tests.

Understand the dietary restrictions and preparation needed before undergoing gastrointestinal diagnostic tests.

Identify the care needed for maintaining skin integrity in patients with perineal skin issues.

Recognize the importance of fluid intake following certain gastrointestinal diagnostic procedures.

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Definitions:

Inelastic

Characterizing a situation where a change in price leads to a relatively small change in the quantity demanded or supplied.

Share of Income

The portion of total income (either personal or national) that is received by an individual, household, or socioeconomic group.

Elastic

A demand curve on which percentage quantity changes more than percentage price is said to be elastic, or sensitive to price. If |e| > 1, demand is elastic, where e is the price elasticity of demand. If |e| = 0, demand is perfectly inelastic while if |e| is infinite, demand is perfectly elastic. If |e| 5 1, demand is unit elastic.

Normal Good

A good for which demand increases when consumer income rises, and falls when consumer income decreases, all else being equal.