College Students and Faculty Members Have a More Elastic Demand

question 176

Multiple Choice

College students and faculty members have a more elastic demand than the general public for Apple's MacBook Pro laptop computers.From this we can conclude that

• A)Apple will charge college students and faculty members higher prices than it charges the general public.
• B)Apple will charge college students and faculty members lower prices than it charges the general public.
• C)the general public will earn arbitrage profits by buying MacBook Pro Laptop computers from Apple and reselling them to college students and faculty members.
• D)Apple will earn economic profits from the computers it sells to the general public but will break even on the computers it sells to college students and faculty members.

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Definitions:

Hypokalemia

A medical condition characterized by lower than normal levels of potassium in the bloodstream, which can affect nerve and muscle function.

Anorexia Nervosa

An eating disorder characterized by an obsessive fear of gaining weight, leading to a refusal to eat sufficient food for healthy living.

Refeeding

The process of gradually increasing food intake in individuals recovering from malnutrition or an eating disorder, requiring careful management to avoid complications.

Refeeding

The dietary process of nutritional rehabilitation for individuals recovering from starvation or eating disorders, done carefully to prevent refeeding syndrome.