If Demand Is Perfectly Elastic

question 3

Multiple Choice

If demand is perfectly elastic,

• A)then a 1% increase in price leads to a fall in quantity of greater than 1%.
• B)then a 1% increase in price leads to a fall in quantity of less than 1%.
• C)then a 1% increase in price causes quantity demanded to fall to zero.
• D)then a 1% increase in price has no effect on quantity demanded.

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Definitions:

Organization's Culture

The set of shared values, beliefs, and practices that influences how work is done within an organization.

Service Risks

Potential challenges or uncertainties faced by service providers that could affect service delivery, quality, or customer satisfaction.

Reduced Value Risks

Potential threats that can decrease the value of an asset, project, or investment, making them less profitable or beneficial.

Employee Morale Risks

Potential threats to the overall confidence, enthusiasm, and satisfaction of employees within a workplace.