Demand for a Good Is Inelastic If

question 105

Multiple Choice

Demand for a good is inelastic if:

• A) total revenue decreases when price decreases.
• B) the quantity effect outweighs the price effect of a price increase.
• C) the absolute value of price elasticity is greater than 1.
• D) None of these is true.

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Definitions:

Persuasion

The act of influencing someone's beliefs, attitudes, or behaviors through argument, reasoning, or appeal.

Weaker Arguments

Arguments that lack sufficient evidence or logical coherence, making them less persuasive or convincing.

Strong Points

The strengths or particularly capable aspects of something or someone, typically highlighting areas of proficiency or effectiveness.

Attractive Models

Individuals who are used in media and marketing that fit societal standards of beauty, often influencing consumer behavior.