If the Countries That Export Bauxite Form a Cartel to Boost

question 4

Multiple Choice

If the countries that export bauxite form a cartel to boost the price of bauxite in order to increase sales revenue, then they believe that the demand for bauxite

• A) is inelastic with respect to price changes.
• B) is elastic with respect to price changes.
• C) will increase in response to a price increase.
• D) will not change in response to a price change.

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Definitions:

Off-Delay Timers

Timers that begin timing when their input is turned off, delaying the off event for a preset period.

Off Delay Cycle

A control or timing function where a signal or operation is delayed from turning off after an input trigger is removed.

MCR Instruction

Master Control Reset, an instruction used in programming PLCs to control the execution of a block of logic or instructions between its start and end points.

Nonretentive Outputs

Output signals or data in a control system that do not maintain their state after a power cycle or reset.