An Increase in the Price of Computer Diskettes Leads to an Increase

question 105

Multiple Choice

An increase in the price of computer diskettes leads to an increase in total expenditures on the diskettes. Which of the following is true for this price change?

• A) Computer diskettes are an inferior good.
• B) The demand for computer diskettes is perfectly elastic.
• C) The demand for computer diskettes is inelastic.
• D) The demand for computer diskettes is elastic.

Comprehend the relationship between chromosomal anomalies and genetic conditions.

Understand the ethical principles and confidentiality obligations in interviews.

Identify and define the basic concepts related to interviews, such as ethics, probing questions, and types of sequences.

Distinguish between different types of interview sequences and their purposes.

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Definitions:

Total Revenue

The total amount of money earned by a business from the sale of its goods and services.

Price-elastic

Refers to the responsiveness of demand or supply to changes in price, with high elasticity indicating significant response to price changes.

Quantity Demanded

The sum of a product or service that buyers are prepared and able to buy at a specific price.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, often used to gauge the sensitivity of demand.