Demand Is Unit Elastic When

question 125

Multiple Choice

Demand is unit elastic when

• A)an increase in supply does not change the price of the good.
• B)a decrease in supply raises the price of the good.
• C)a change in price does not change total revenue.
• D)the slope of the demand curve is -1.
• E)the slope of the demand curve is +1.

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Definitions:

Assimilation

The process by which individuals or groups adopt the culture, beliefs, and practices of a dominant group, losing their original identity.

Indigenous Psychology

A psychology created by and for a specific cultural group – based on the claim that culture can be understood only from within its own perspective.

Cultural Psychology

A branch of psychology focused on how cultural contexts shape thinking and behavior.

Intercultural Psychology

The study of the cultural factors that influence human behavior, thought processes, and emotions, highlighting cross-cultural interactions.