Which of the Following Describes a Situation in Which Demand

question 170

Multiple Choice

Which of the following describes a situation in which demand must be elastic?

• A) The price of pens rises by 10 cents, and quantity of pens demanded falls by 50.
• B) The price of pens rises by 10 cents, and total revenue rises.
• C) A 20 percent increase in the price of pens leads to a 20 percent decrease in the quantity of pens demanded.
• D) Total revenue does not change when the price of pens rises.
• E) Total revenue decreases when the price of pens rises.

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Definitions:

Increase Helping Behavior

Strategies or actions taken to enhance the willingness or frequency of people aiding others in need.

Influence Thinking

The act of affecting or altering someone's thought processes, decision-making, or beliefs through various means.

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To encourage or facilitate the exchange of information or ideas between people.

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Degree to which a person experiences the variety and relative abundance of human emotions.