If 100 Shirts Are Sold When the Unit Price Is

question 122

Multiple Choice

If 100 shirts are sold when the unit price is $10, while 75 shirts are sold when the unit price is $15, one can conclude that in this price range,

• A)demand for the shirts is elastic.
• B)demand for the shirts is inelastic.
• C)demand for the shirts has shifted to the right.
• D)consumers are quite sensitive to changes in the price of the shirt.

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Definitions:

Basic Psychological Needs

Fundamental psychological necessities identified in self-determination theory, which include autonomy, competence, and relatedness.

Motivation

The psychological process that gives behavior purpose and direction, driving individuals to achieve their goals.

Basic Psychological Needs

Refers to the inherent requirements for psychological well-being and growth, typically including autonomy, competence, and relatedness.

Motivation

The psychological forces that determine an individual's level of effort and persistence in the face of obstacles.