Unsolicited Proposals Usually Take the Form of a Letter, Memo

question 22

True/False

Unsolicited proposals usually take the form of a letter, memo, or email.

---

Definitions:

Elastic

Elastic describes a situation in economics where the quantity demanded or supplied changes significantly in response to price changes.

Price Elasticity

The extent to which changes in price affect the demand for a specific good.

Completely Inelastic

A situation where the quantity demanded or supplied does not change regardless of changes in price.

Infinitely Elastic

Describes a market situation in which the quantity demanded or supplied changes by an unlimited amount in response to any change in price, indicative of perfect competition.