Which of the Following Is Correct

question 160

Multiple Choice

Which of the following is correct?

• A)If the demand for a product is inelastic, a change in price will cause total revenue to change in the opposite direction.
• B)If the demand for a product is inelastic, a change in price will cause total revenue to change in the same direction.
• C)If the demand for a product is inelastic, a change in price may cause total revenue to change in either the opposite or the same direction.
• D)The price elasticity coefficient applies to demand, but not to supply.

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Definitions:

Indirect Strategy

A communication approach where the main point or conclusion is presented after the supporting details, often used to soften the impact of negative information.

Direct Strategy

A communication method that involves straightforwardly presenting the main point or request at the beginning.

Reasons-before-refusal Plan

A strategic approach in communication or negotiation where one presents justifications or arguments prior to expressing a refusal.

Denying Claims

The act of rejecting assertions or accusations, often in a legal or business context, asserting that they are untrue or unfounded.