Which of the Following Is Not Characteristic of the Demand

question 165

Multiple Choice

Which of the following is not characteristic of the demand for a commodity that is elastic?

• A)The relative change in quantity demanded is greater than the relative change in price.
• B)Buyers are relatively sensitive to price changes.
• C)Total revenue increases if price is increased.
• D)The elasticity coefficient is greater than one.

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Definitions:

Dissented

The act of expressing disagreement or opposition to a prevailing idea or an official decision.

Majority Opinion

In judicial contexts, the official statement of the decision agreed upon by more than half of the members of a court, which becomes the ruling of the court.

Iraq

A country in the Middle East with a rich history dating back to ancient Mesopotamia, known for its oil reserves and recent conflicts.

Kuwait

A country located in the Middle East, known for its significant oil reserves and strategic location on the Persian Gulf.