Which of the Following Is a Positive Statement

question 42

Multiple Choice

Which of the following is a positive statement?

• A) Nelly's dog should lose some weight.
• B) Legally requiring dogs to have rabies shots will reduce the number of rabid dogs.
• C) Nelly should take her dog to the veterinarian once a year for a checkup.
• D) Chihuahuas are cuter than bulldogs.
• E) All dogs should be required to wear leashes at all times.

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Definitions:

Unit Elasticity

A situation in which the percentage change in quantity demanded or supplied is equal to the percentage change in price.

Total-revenue Curve

A graphical representation showing how the total revenue of a firm changes as the quantity sold of its product varies.

Linear Demand Curve

A graphical representation of the relationship between the price of a good and the quantity demanded, characterized by a straight line.

Unit Elastic

A situation where a change in price leads to an equivalent proportional change in quantity demanded or supplied.