Which of the Following Statements Regarding Price Elasticity Is False

question 29

Multiple Choice

Which of the following statements regarding price elasticity is false?

• A) The concept of price elasticity is an extension of the economic pricing model.
• B) Demand is elastic if a price change has a large negative impact on sales volume.
• C) Demand is elastic if price changes have no impact on sales volume.
• D) Measuring price elasticity is an important objective of market research.
• E) Demand is relatively inelastic if price changes have little impact on sales quantity.

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Definitions:

Freud's Theory

A theory proposed by Sigmund Freud that emphasizes the importance of unconscious processes in shaping behaviors, personality development, and psychopathologies.

Personality

A unique set of emotional, thought, and behavioral patterns that define an individual's personal style of interacting with the physical and social environment.

Most Basic Personality System

a conceptual term that could refer to the fundamental aspects or mechanisms underlying human personality.

Ego

In psychoanalytic theory, the part of the personality that mediates between the demands of the id, superego, and reality, playing a key role in decision making and sense of self.