Demand for a Given Good Is Inelastic, So It Follows

question 76

Multiple Choice

Demand for a given good is inelastic, so it follows that if price rises, __________ will rise, too.

• A)quantity demanded
• B)total revenue
• C)total cost
• D)income
• E)supply

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Definitions:

Disinhibition Effect

The phenomenon where an individual exhibits uninhibited or impulsive behavior due to a reduction in social restraints or personal inhibitions.

Verbal Modeling

A method of learning in which individuals learn how to act or perform by listening to descriptions or explanations and imitating those verbal instructions.

Perception

The process by which individuals organize and interpret their sensory impressions to give meaning to their environment.

Disinhibition

The weakening of inhibitions or constraints by observing the behavior of a model.