In Entering the Billing Address for a New Client in Emil

question 7

Multiple Choice

In entering the billing address for a new client in Emil Company's computerized database, a clerk erroneously entered a nonexistent zip code.As a result, the first month's bill mailed to the new client was returned to Emil Company.Which one of the following would most likely have led to discovery of the error at the time of entry into Emil Company's computerized database?

• A)Limit test
• B)Validity test
• C)Parity test
• D)Record count test

Distinguish between elastic, inelastic, and unit-elastic demand.

Predict the effects of price changes on total revenue and expenditures, given the elasticity of demand.

Understand the concept of price elasticity of supply.

Analyze the impacts of supply and demand elasticity on market equilibrium.

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