Recall the Application About the Price of Vanity License Plates

question 96

Multiple Choice

Recall the Application about the price of vanity license plates in Virginia to answer the following question(s) .
-Recall the application.Why would a decrease in price for vanity plates reduce the total revenue that the state of Virginia will receive from vanity plates?

• A) The demand for vanity plates in Virginia is inelastic.
• B) The demand for vanity plates in Virginia is elastic.
• C) The demand for vanity plates in Virginia is equal to 1.
• D) There is insufficient information to draw a conclusion.

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Definitions:

License

A legal permission granted by competent authority to engage in an activity or to use something that is otherwise not allowed or is controlled by law.

Unsolicited Commercial E-mail

Email messages sent without the recipient's consent, often for advertising or promotional purposes, also known as spam.

Federal Law

Laws created by the national government of a country, which apply to all residents and entities within that country.

Cybersquatting

Registering a domain name that is the same as, or confusingly similar to, the trademark of another and then offering to sell that domain name back to the trademark owner.