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:

Older Than 65

The demographic group classified as senior citizens, typically associated with the age at which one is considered eligible for government-assisted retirement benefits.

Strains Of Caregiving

The pressures, stresses, or burdens experienced by individuals who provide care for others, often leading to physical or emotional strain.

Daily Routines

The series of tasks or activities that an individual regularly follows in a day.

Live-In Caregivers

Individuals, often employed on a full-time basis, who reside in the home of the person they care for to provide assistance with daily activities and health-related needs.