If the Demand for Digital Cameras Is Price Elastic

question 57

Multiple Choice

If the demand for digital cameras is price elastic

• A) they will have a high price.
• B) they are probably in demand.
• C) an increase in price will not measurably reduce sales.
• D) a decrease in price increases the total amount spent on them.
• E) the elasticity coefficient equals 1.

---

Definitions:

Superordinate Goals

Goals that both groups desire but that can be achieved only by both groups cooperating.

Sherif

Refers to Muzafer Sherif, a social psychologist known for his work on group norms, social influence, and the Robbers Cave Experiment.

Commons Dilemma

Social dilemma in which cooperation by all benefits all, but competition by all harms all.

Ethnocentric Actions

Behaviors driven by the belief that one's own cultural group is superior to others.