If Your Demand for Petrol Is Inelastic, When the Price

question 107

Multiple Choice

If your demand for petrol is inelastic, when the price of petrol falls, which of the following occurs?

• A) Your demand curve for petrol will shift rightward.
• B) Your total expenditure on petrol will increase.
• C) Your total expenditure on petrol will decrease.
• D) Your demand curve for petrol will shift leftward.

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Definitions:

Stressor

Any event, situation, or stimulus that causes stress or anxiety in an individual.

Physical Responses

Reactions of the body to internal or external stimuli, which can include changes in heart rate, hormone levels, or muscle tension.

Emotional Responses

Reactions characterized by feelings that occur when an individual is faced with a significant event or situation.

Subjective Well-Being

Subjective well-being refers to how individuals experience and evaluate their lives and specific domains and activities in their lives, often in terms of happiness and satisfaction.