Elastic Demand Exists When

question 320

Multiple Choice

Elastic demand exists when:

• A)a small percentage decrease in price produces a smaller percentage increase in quantity demanded and total revenue falls.
• B)a small percentage decrease in price produces a larger percentage increase in quantity demanded and total revenue increases.
• C)an increase in price causes a larger increase in quantity demanded and total revenue falls to zero.
• D)the quantity demanded remains the same regardless of level of price and total revenue is unchange

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Definitions:

Axillary Vein

A vein that accompanies the axillary artery and drains the upper limb and the lateral aspect of the thorax and breast.

Subscapular Vein

A vein that drains blood from the subscapular region, which includes the underside of the scapula, and typically joins with the axillary vein.

Internal Thoracic Vein

A vein that runs alongside the internal thoracic artery and drains blood from the chest wall and breasts into the brachiocephalic vein.

Ethical Dilemma

A situation in which a person must choose between options that are or seem to be equally unacceptable or dishonorable.