If a 5 Percent Fall in the Price of a Product

question 27

Multiple Choice

If a 5 percent fall in the price of a product causes the quantity demanded of the product to increase by 10 percent,the demand is:

• A) inelastic.
• B) elastic.
• C) unit elastic.
• D) perfectly elastic.

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Definitions:

Nonadaptive Coping Skill

Behaviors or strategies that fail to manage or mitigate stress effectively and may worsen the situation or create additional problems.

Hanging Onto Anger

The act of persistently holding onto or harboring feelings of anger and resentment, which can have negative psychological and physical health effects.

Nonadaptive Coping Skill

A coping mechanism that reduces stress in the short term but is ineffective or harmful in the long term.