If a 1 Percent Decrease in Price Results in More

question 52

Multiple Choice

If a 1 percent decrease in price results in more than a 1 percent increase in quantity demand, demand is

• A) cross-price elastic.
• B) price inelastic.
• C) price elastic.
• D) status quo elasticity.
• E) derived demand inelastic.

---

Definitions:

Disagreement Signals

Signs that the prospect does not agree with the presentation or does not think the product is beneficial.

Skeptical

Having an attitude of doubt or a disposition to incredulity either in general or toward a particular object.

Caution Signals

Warning signs or indicators that suggest a need for careful consideration or attention to avoid potential problems or dangers.

Body Angle

Refers to the positioning of one's body, which can convey nonverbal messages or attitudes during interpersonal communications.