If the Demand for Textbooks Is Inelastic,then a Decrease in the Price

question 114

Multiple Choice

If the demand for textbooks is inelastic,then a decrease in the price of textbooks will

• A)increase total revenue of textbook sellers.
• B)decrease total revenue of textbook sellers.
• C)not change total revenue of textbook sellers.
• D)There is not enough information to answer this question.

---

Definitions:

Code of Ethics

A set of principles and standards that guides ethical professional conduct and decision making within an organization.

Ethical Tolerances

The degree to which behavior deviating from ethical norms is accepted or allowed within a group, organization, or society.

Ethics Ombudsperson

An official given the responsibility of corporate conscience who hears and investigates ethical complaints and informs top management of potential ethical issues.

Corporate Conscience

A concept referring to a company's ethical compass and its commitment to doing what is right in terms of social responsibility, beyond mere compliance with laws.