Which of the Following Statements About the Price Elasticity of Demand

question 207

Multiple Choice

Which of the following statements about the price elasticity of demand is correct?

• A)The elasticity of demand for a good in general is equal to the elasticity of demand for a specific brand of the good.
• B)The absolute value of the elasticity of demand ranges from zero to one.
• C)Demand is more elastic in the long run than it is in the short run.
• D)Demand is more elastic the smaller the percentage of the consumer's budget the item takes up.

---

Definitions:

Stereotype Threat

A psychological phenomenon where individuals perform worse on tasks due to the fear of confirming negative stereotypes about their social group.

Gender Identity

An individual's personal sense of their own gender, which may or may not align with the sex they were assigned at birth.

Actual Selves

Represents one's perception of the self as it is, contrasted with the ideal self or the self that one believes they should become.

Ideal Selves

The concept or image of oneself as one wishes to become or be seen as, often serving as a motivational guide for personal behavior and aspirations.