If the Quantity of Carrots Demanded Increases by a Small

question 79

Multiple Choice

If the quantity of carrots demanded increases by a small percentage when income increases by a large amount, we know that the demand for carrots is

• A)price elastic.
• B)price inelastic.
• C)income inferior.
• D)income elastic.
• E)income inelastic.

---

Definitions:

Ethical Behavior

Conduct based on recognized principles of right and wrong, guiding professional and personal actions.

Personal Integrity

embodies adherence to moral and ethical principles, ensuring honesty, fairness, and consistency in one's actions and decisions.

Espoused Values

The explicitly stated values and norms that are preferred or professed by an organization or individual, which may or may not be reflected in actual behavior.

Kohlberg

Refers to Lawrence Kohlberg, an American psychologist best known for his theory of stages of moral development.