When the Quantity Effect Outweighs the Price Effect

question 145

Multiple Choice

When the quantity effect outweighs the price effect:

• A) a price increase will cause a decrease in total revenue.
• B) a price increase will cause an increase in total revenue.
• C) a price decrease will cause a decrease in total revenue.
• D) None of these is true.

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Definitions:

Job Performance Ratings

Assessments used to evaluate an employee's effectiveness and achievements in their job role.

Company Attendance Records

Documentation or data pertaining to the presence or absence of employees at work within a company, often used for payroll or performance evaluations.

Subjective Performance Measure

An evaluation of an individual's work performance based on opinions, feelings, or perspectives rather than objective data.

Contrast Effect

occurs when the comparison of two or more objects or options significantly affects the perception and judgment of those items.