If the Price Elasticity of Demand Is - 2

question 3

Multiple Choice

If the price elasticity of demand is - 2:

• A) Demand is price inelastic.
• B) A fall in price will decrease revenue.
• C) Demand is price elastic.
• D) A fall in price decreases sales.

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Definitions:

Attachment Style

A theory in psychology that describes the nature of emotional bonds between individuals, categorizing them into secure, anxious, and avoidant styles based on early relationships and experiences.

Attachment Theory

A theory specifying that a child’s attachment experiences will eventually become a part of the child’s personality.

Primary Caregiver

The main person who provides daily care and support to a dependent individual, such as a child, elderly, or sick person.

Secure Attachment Style

A pattern of attachment in which individuals show confidence in exploring their environment and seek comfort from their attachment figures when distressed.