Suppose Sandy's Candies Wants to Increase Its Total Revenues

question 458

Multiple Choice

Suppose Sandy's Candies wants to increase its total revenues. If Sandy increases the price of her candy, she must be assuming that the demand for candy is

• A) unit elastic.
• B) inelastic.
• C) elastic.
• D) income elastic.

---

Definitions:

States

Temporary patterns of thought, feeling, or behavior.

Walter Mischel

A psychologist known for his research on personality theory and cognitive psychology, including the famous Marshmallow Test related to delayed gratification.

Circumstances

A condition or fact that affects a situation, often used in reference to the specific details or context surrounding an event or decision-making process.

Personality Paradox

The idea that people seem to behave much less consistently than a trait conception would predict.