Which of the Following Best Explains 'Price Elasticity

question 57

Multiple Choice

Which of the following best explains 'price elasticity'? 

• A) Discount is based on a special offer to temporarily stimulate sales. 
• B) Discount is based on orders placed out of season for delivery later in the year. 
• C) Discount is based on the how fast the customer pays their bills. 
• D) The extent to which price per unit changes with the volume that is purchased.

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Definitions:

Lanham Act

United States legislation that provides protection to trademarks and regulates unfair competition.

False Advertising

The act of misleading consumers through deceptive, incorrect, or misrepresented information in advertisements.

Installment Contract

Under the Uniform Commercial Code, a contract that requires or authorizes delivery in two or more separate lots to be accepted and paid for separately.

Truth-In-Lending Act

A federal law designed to promote informed use of consumer credit by requiring disclosures about its terms and cost.