The Demand for a Good Is Elastic If

question 264

Multiple Choice

The demand for a good is elastic if

• A) an increase in its price results in an increase in total revenue.
• B) a decrease in its price results in a decrease in total revenue.
• C) an increase in its price results in a decrease in total revenue.
• D) the good is a necessity.

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Definitions:

Relationship-Promoting Behaviors

Actions or practices that contribute to the strengthening and positive development of interpersonal relationships.

Marital Stability

The degree to which a marriage remains free of serious conflicts and continues to be satisfying to both partners over time.

Marital Success

The extent to which a marriage fulfills the emotional, social, and financial needs of the partners, contributing to their overall life satisfaction.

Perfectionism

A personality trait characterized by striving for flawlessness, setting extremely high standards for oneself, and experiencing critical self-evaluations.