As the Price of Bananas Fell from $0

question 378

Multiple Choice

As the price of bananas fell from $0.60 to $0.40 a pound, the quantity demanded rose from 300 pounds of bananas consumed to 500 pounds of bananas consumed. In this example, demand for bananas is

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

---

Definitions:

Disclosing Identity

The act of revealing or making known one's identity.

Authority

The power or right to give orders, make decisions, and enforce obedience, or an individual or organization possessing this power.

Warranty of Authority

A legal assurance by an agent to a third party that they have the authority to act on behalf of another person or entity.

Estate

The collective net worth of an individual, including all of their assets, property, and financial interests, especially as considered in the context of succession or inheritance.