If a Small Percentage Change in Price Causes a Larger

question 121

Multiple Choice

If a small percentage change in price causes a larger percentage change in the quantity demanded, the good has:

• A) an inelastic demand.
• B) a low magnitude of response.
• C) an elastic demand.
• D) a high magnitude of response.

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Definitions:

Mildly Negative Information

Information that, while not overwhelmingly detrimental, has a somewhat adverse impact on perception or outcomes.

Positive Message

Communication that conveys good news, encouragement, or optimism.

Routine Replies

Standard responses to common inquiries or situations, often used in customer service and communication protocols.

Indirect Approach

A communication strategy that presents supporting details first, leading up to the main point or request, often used to soften the impact of negative news.