Table 7-9 -Refer to Table 7-9

question 151

Multiple Choice

Table 7-9
$\begin{array}{|c|c|}\hline\begin{array}{c}\text { Price per Pound } \\\text { (dollars) }\end{array} & \begin{array}{c}\text { Quantity of Cheese } \\\text { Demanded (pounds) }\end{array} \\\hline \$ 16 & 3 \\\hline 14 & 4 \\\hline 12 & 5 \\\hline 10 & 6 \\\hline 8 & 7 \\\hline 6 & 8 \\\hline 4 & 9 \\\hline 2 & 10 \\\hline\end{array}$
-Refer to Table 7-9.Over what range of prices is the demand elastic?

• A) over the entire range of prices
• B) between $14 and $16
• C) between $8 and $16
• D) between $2 and $8

---

Definitions:

Niche Marketing

A targeting strategy that involves pursuing a large share of a small market segment.

Print Advertising

A form of advertising that uses physically printed media, such as newspapers and magazines, to reach consumers and promote products or services.

International Markets

Markets that exist outside of a company's home country, allowing for the expansion and sale of goods and services globally.

Global

Relating to or encompassing the whole world; involving or affecting the entirety of the Earth.