Any Failure to Reach an Agreement on Contract Language Concerning

question 31

True/False

Any failure to reach an agreement on contract language concerning a mandatory bargaining subject represents a violation of the duty to bargain in good faith.

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Definitions:

Elastic

Describes a situation in economics where the demand for a product or service significantly changes in response to a change in price.

Inelastic

A characteristic of goods or services for which demand does not significantly change with a change in price.

Price Range

The difference between the lowest and highest prices within a given market.

Price Inelastic

Refers to a condition where the demand for a good does not significantly change with a change in its price.