Which of the Following Statements Is True

question 181

Multiple Choice

Which of the following statements is true?

• A)If the price of a good is lowered and total revenue decreases, demand is elastic.
• B)If the price of a good is raised and total revenue does not change, demand is perfectly elastic.
• C)If the price of a good is raised and total revenue increases, demand is inelastic.
• D)If the price of a good is lowered and total revenue increases, demand is inelastic.

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Definitions:

Motivation

The driving force behind an individual's actions, desires, and needs.

Political Conservatives

Individuals who generally prefer to uphold traditional values and are cautious about embracing change or innovation, often emphasizing free enterprise, private ownership, and socially conservative ideas.

Political Liberals

Individuals who typically advocate for social equality, personal freedoms, and governmental interventions to address social inequalities.

Personal Dispositions

Enduring characteristics or tendencies that influence behaviors and attitudes across different situations and times.