When the Percentage Change in Quantity Demanded Is Larger Than

question 254

Multiple Choice

When the percentage change in quantity demanded is larger than the percentage change in price, demand is said to be:

• A) price inelastic.
• B) unit price elastic.
• C) price elastic.
• D) perfectly inelastic.

---

Definitions:

Legal Institutions

Established organizations or systems that govern, enforce, and interpret laws within a society.

Shareholders

Individuals or entities that own shares in a corporation, giving them ownership interests.

Defensive Strategy

A corporate social responsibility strategy that does the minimum legally required to display social responsibility.

Economic Responsibilities

refer to the obligations of businesses and organizations to pursue strategies that enhance their profitability within the confines of the law.