The Demand for Novels Is _____________ Than Is the Demand

question 43

Multiple Choice

The demand for novels is _____________ than is the demand for science textbooks because __________________.

• A) less price elastic; novels have more available substitutes.
• B) more price elastic; novels have less available substitutes.
• C) less price elastic; novels have less available substitutes.
• D) more price elastic; novels have more available substitutes.

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Definitions:

Tacit Power

Unspoken, yet understood authority or influence that individuals or groups may hold, often derived from social positions or relationships.

Legal-Rational Authority

Is typical of modern societies. It derives from respect for the law. Laws specify how a person can achieve office. People generally believe laws are rational. If someone achieves office by following laws, people respect his or her authority.

Pierre Elliott Trudeau

A former Prime Minister of Canada known for his charismatic leadership, implementation of the Official Languages Act, and promotion of Canadian unity.

Charismatic Authority

Is based on a belief in the claims of extraordinary individuals that they are inspired by a god or some higher principle.