Figure 5-6 -Refer to Figure 5-6.A Decrease in Price from $15 to Price

question 152

Multiple Choice

Figure 5-6

-Refer to Figure 5-6.A decrease in price from $15 to $10 leads to

• A)a decrease in total revenue of $10, so the price elasticity of demand is greater than 1 in this price range.
• B)a decrease in total revenue of $10, so the price elasticity of demand is less than 1 in this price range.
• C)a decrease in total revenue of $20, so the price elasticity of demand is less than 1 in this price range.
• D)a decrease in total revenue of $20, so demand is elastic in this price range.

---

Definitions:

Behaviour

The manner in which an individual acts or conducts themselves, especially towards others.

Personal Integrity

The quality of being honest and having strong moral principles that one refuses to violate.

Leadership

The act of guiding or directing a group towards achieving a goal.

Followers

Individuals who accept the guidance, direction, or leadership of another, often within the context of an organizational setting or movement.