Which of the Following Statements Is Correct

question 130

Multiple Choice

Which of the following statements is correct?

• A) The demand for New Balance shoes is more elastic than the demand for shoes in general.
• B) The demand for salt is very elastic.
• C) The demand for luxuries is less elastic than the demand for necessities.
• D) The demand for a narrowly defined good is less elastic than the demand for a more broadly defined good.
• E) The larger the proportion of income spent on a good, the smaller the elasticity of demand.

---

Definitions:

Psychological Factor

Elements of human psychology that influence an individual's behavior, emotions, or mindset, often impacting decision-making and social interactions.

Dysfunctional Leadership

A leadership approach that negatively affects organizational culture and employee well-being through toxic, self-serving, or inept practices.

Organizational Success

The achievement of the goals and objectives set by a business or institution, typically measured by financial performance, market share, or fulfillment of mission.

Toxic Leaders

Leaders who have a detrimental impact on their followers or organization due to destructive, abusive, or unethical behavior.