Due to Budgetary Problems Within Many States, Recreational Opportunities in Many

question 29

Multiple Choice

Due to budgetary problems within many states, recreational opportunities in many prisons are largely funded by __________.

• A) charitable organizations
• B) the inmates themselves
• C) inmate families
• D) external grants

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Definitions:

Elastic

Describing a situation in which the supply or demand for a good or service is highly responsive to changes in price.

Elasticity Coefficient

A measure reflecting the responsiveness of the quantity demanded or supplied of a good to a change in its price.

Price Increase

A rise in the cost of goods or services over time.

Unit Elastic

A scenario in which a change in price by a certain percentage results in an identical percentage change in the amount demanded or supplied.