Which of the Following Describes a Situation in Which Demand

question 46

Multiple Choice

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

• A) Total revenue decreases by 10 percent when the price of jeans rises by 10 percent.
• B) Total revenue decreases by less than 10 percent when the price of jeans rises by 10 percent.
• C) Total revenue increases by more than 10 percent when the price of jeans rises by 10 percent.
• D) Total revenue decreases by $10 when the price of jeans rises by $10.
• E) Total revenue decreases by more than $10 when the price of jeans rises by $10.

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Definitions:

Self-awareness

The conscious knowledge of one's own character, feelings, motives, and desires, considered a key component of emotional intelligence.

Extroversion

A personality trait characterized by outgoingness, high energy, and engagement with the external environment.

Dispositional Component

refers to aspects of a person's inherent qualities of mind and character that influence their behavior and responses.

Cognitive Component

Refers to the thoughts, beliefs, and knowledge an individual has about an object, situation, or concept.