When the Price of Tortilla Chips Rose by 10 Percent

question 105

Multiple Choice

When the price of tortilla chips rose by 10 percent, the quantity of tortilla chips sold fell 4 percent.This indicates that the demand for tortilla chips is

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

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Definitions:

Time Frames

Specific periods during which actions are taken or events occur, often used in planning and scheduling.

Log Of Interruptions

A record or journal kept to track instances and causes of interruptions during work or activity.

Major Time Wasters

Activities or distractions that consume significant amounts of time and reduce productivity.

Priorities

The tasks, activities, or goals deemed most important and that require attention before anything else.