When Demand Is Inelastic,the Price Elasticity of Demand Is

question 16

Multiple Choice

When demand is inelastic,the price elasticity of demand is

• A)less than 1,and price and total revenue will move in the same direction.
• B)less than 1,and price and total revenue will move in opposite directions.
• C)greater than 1,and price and total revenue will move in the same direction.
• D)greater than 1,and price and total revenue will move in opposite directions.

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Definitions:

Sportscaster

A journalist who reports and provides commentary on sports events, either on television or radio.

High Status

Occupying a position of superior rank, prestige, or respect within a social hierarchy.

Foot In The Door

A persuasion technique where a small request is made first to increase the likelihood of agreement to a larger request later.

Lowballing

A persuasive technique in which an initially favorable offer is made to gain agreement, but then terms are made less advantageous to the target.