If the Price of Business Broadband Is Greater Than That

question 100

Multiple Choice

If the price of business broadband is greater than that of residential broadband,all else equal,

• A) business has greater price elasticity than residential.
• B) residential has greater price elasticity than business.
• C) both have positive income elasticity.
• D) generally speaking, broadband is equally priced.

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Definitions:

Anticipatory Repudiation

A declaration by one party to a contract of their intention not to perform their future obligations as agreed, allowing the other party to treat the contract as breached and seek remedies.

Mutual Agreement

A mutual agreement is an understanding or arrangement made between two or more parties, usually detailed in a formal contract.

Discharge

The release or termination of a person’s duty, debt, or obligation, effectively relieving them from responsibility.

Novation

The act of replacing one obligation with another, essentially altering the parties, terms, or obligations of a contract.