Which of the Following Is True

question 118

Multiple Choice

Which of the following is true?
i.The easier it is to find substitutes for a good,the more price elastic the demand for the good is.
ii.The demand for a good is more price elastic the smaller the proportion of income spent on it.
iii.If demand is price elastic,lowering the price leads to a decrease in total revenue.

• A) only i
• B) only ii
• C) only iii
• D) i and ii
• E) i and iii

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Definitions:

American Psychiatric Association

A medical specialty society recognized worldwide, primarily focusing on the diagnosis, treatment, and prevention of mental illnesses.

Homosexuality

A sexual orientation characterized by a romantic or sexual attraction to individuals of the same gender.

Psychological Disorders

Mental health conditions characterized by disturbances in thought, emotion, or behavior, leading to distress or impaired functioning.

Acculturation

The process of adaptation by an ethnic group to the attitudes, behaviors, and values of the dominant culture.