Which of the Following Could Be the Price Elasticity of Demand

question 189

Multiple Choice

Which of the following could be the price elasticity of demand for a good for which an increase in price would decrease revenue?

• A)0.6
• B)0.9
• C)1
• D)2.6

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Definitions:

Cross-Cultural Values

Beliefs or priorities that vary among different cultures, affecting behavior, practices, and perceptions.

Power Distance

A cultural dimension that describes the extent to which less powerful members of organizations and institutions accept and expect power to be distributed unequally.

Ethical Sensitivity

The capability to recognize and respond to ethical issues and dilemmas that arise in various situations.

MARS Model

A framework identifying four critical factors—Motivation, Ability, Role Perceptions, and Situational factors—that determine an individual's work performance.