Which of the Following Describes a Situation in Which Demand

question 129

Multiple Choice

Which of the following describes a situation in which demand must be elastic?

• A) Total revenue increases by 15 percent when the price of corndogs rises by 15 percent.
• B) Total revenue increases by less than 15 percent when the price of corndogs rises by 15 percent.
• C) Total revenue decreases by more than 15 percent when the price of corndogs rises by 15 percent.
• D) Total revenue increases by $15 when the price of corndogs rises by $15.
• E) Total revenue increases by more than $15 when the price of corndogs rises by $15.

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A line of numbers printed at the bottom of checks using a special magnetic ink; includes bank routing number, account number, and check number, used for electronic processing.

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