If the Price of a Good Increases from $100 to $110

question 44

True/False

If the price of a good increases from $100 to $110 and quantity demanded decreases from 100 units to 90 units, the demand would be classified as unit elastic.

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Definitions:

Positional Power

The authority and power vested in an individual’s role or position within an organization's hierarchy.

Knowledgeable

Having or showing understanding, awareness, or familiarity with facts, information, or skills through experience or education.

Leadership And Power

The relationship between the ability to influence others and the capacity to use this influence to direct and motivate their actions towards achieving goals.

Coercion

The act of compelling someone to act in a certain way by use of force or threats, often seen negatively in the context of leadership and management strategies.