A Straight-Line Demand Curve with Negative Slope Intersects the Horizontal

question 248

Multiple Choice

A straight-line demand curve with negative slope intersects the horizontal axis at 200 tons per week. The point on the demand curve at which the price elasticity of demand is 1 corresponds to a quantity demanded

• A) of 0 tons.
• B) of 100 tons.
• C) of 200 tons.
• D) that would be negative if a negative quantity demanded were possible.

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Definitions:

Time and Place Utility

The value added to products through making them available at the right time and location to meet consumer needs.

Pipeline

In supply chain, refers to the flow of goods and materials from the supplier to the customer, as well as the processes that move products through the stages of production to delivery.

High-value Products

Goods or services that provide significant value to the customer, often due to their quality, uniqueness, or customization.

Low-value Products

Goods characterized by relatively low unit cost and often perceived as having lower importance or priority in inventory management and logistics planning.