If the Quantity Demanded Increases by 20 Percent in Response

question 173

Multiple Choice

If the quantity demanded increases by 20 percent in response to a 10 percent decrease in price, demand is classified as

• A) unstable.
• B) relatively inelastic.
• C) relatively elastic.
• D) of unitary elasticity.

---

Definitions:

Alternative Work Arrangements

Employment setups differing from traditional full-time, on-site jobs, such as telecommuting, flexible schedules, or part-time work.

Diverse Workforce

Refers to a workplace that includes employees with a wide range of characteristics, such as race, gender, age, cultural background, and more.

Changing Content

The alteration or modification of information, materials, or topics to adapt to new requirements or audiences.

Type A

A personality type characterized by competitiveness, self-criticism, time urgency, and a heightened response to stress.