If a Pizza Hut Raises the Price of a Slice

question 315

Multiple Choice

If a Pizza Hut raises the price of a slice of pizza from $3.00 to $3.25,the quantity demanded decreases from 1,500 slices per week to 1,300 slices per week.The demand for slices of pizza is ________ and the total revenue received by this Pizza Hut ________.

• A) elastic; decreases
• B) inelastic; decreases
• C) elastic; increases
• D) inelastic; increases
• E) unit elastic; does not change

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Definitions:

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A skin condition caused by exposure to ultraviolet or other forms of radiation, leading to inflammation, redness, and damage.

Radiant Energy

The energy of electromagnetic waves, including light, radio waves, and X-rays, which can travel through space.

Antipruritic

A substance or treatment that relieves or prevents itching.

Antifungal

Relating to or involving the use of agents that inhibit the growth of or destroy fungi.