If the Price of Business Broadband Is Greater Than That

question 42

Multiple Choice

If the price of business broadband is greater than that of residential broadband, all else equal

• A)business has greater price elasticity than residential.
• B)residential has greater price elasticity than business.
• C)both have inelastic demand curves.
• D)generally speaking, broadband is equally priced.

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Definitions:

Statute of Frauds

A legal principle that requires certain types of contracts to be executed in writing and signed by the party to be charged, to be enforceable.

Document Signing

The act of officially endorsing a document through a handwritten or digital signature, signifying agreement or approval.

Statute of Frauds

A legal principle that requires certain types of contracts to be in writing and signed by the party to be charged, to be enforceable.

Promissory Estoppel

A legal principle that prevents a party from withdrawing a promise made to another party, if the latter has reasonably relied on that promise to their detriment.