At a Price of $5,consumers Buy 200 Units of Good

question 46

Multiple Choice

At a price of $5,consumers buy 200 units of good X.When the price falls to $4,quantity demanded increases to 250 units.We can conclude that over this range,demand is:

• A)elastic.
• B)unit elastic.
• C)inelastic.
• D)perfectly inelastic.

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Definitions:

Negligent

Failing to take proper care in doing something, leading to damage or injury to another.

Pre-emptive Rights

Legal rights granted to existing shareholders to purchase additional shares in a corporation before new shares are offered to the public, to maintain their proportional ownership.

Shareholder's Agreement

A contract between the shareholders of a company that specifies their rights, privileges, protections and obligations.

Minority Shareholder

An owner of a minority interest in a corporation, typically holding less than 50% of the company's shares.