If a Product's Price Rises by 6% and Its Quantity

question 175

Multiple Choice

If a product's price rises by 6% and its quantity demanded falls by 8%, then we can say that demand for this product is

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

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Definitions:

Cognitive-Behavioral

Relating to a therapy approach that addresses dysfunctional emotions, maladaptive behaviors, and cognitive processes through a number of goal-oriented, explicit systematic procedures.

Evidence Based

Involving, utilizing, or derived from rigorous scientific evidence as part of making decisions in professional practice, especially within healthcare.

Psychotherapy Practices

The various methods and techniques employed by mental health professionals to treat psychological disorders and improve mental health.

Delphi Poll

A method of gathering data and achieving consensus among a group of experts through a series of questionnaires interspersed with feedback.