If a Business Can Sell 3000 Units of a Product

question 41

Multiple Choice

If a business can sell 3000 units of a product at $10 per unit and 5000 units at $8 per unit,its demand is:

• A)elastic
• B)perfectly elastic
• C)inelastic
• D)unit-elastic
• E)perfectly inelastic

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Definitions:

Federal Department

A major administrative unit within the executive branch of the U.S. government, responsible for specific areas of public policy, administration, and regulation.

Cold War

The period of geopolitical tension between the Soviet Union and the United States and their respective allies from the end of World War II in 1945 until the dissolution of the Soviet Union in 1991, characterized by threats, propaganda, and other measures short of open warfare.

Cold War Consensus

The general agreement among American political leaders during the Cold War on basic aspects of U.S. foreign policy, especially on the strategy of containing Soviet influence.

Anticommunism

Opposition to communism, characterized by efforts to counteract the influence and spread of communist ideology and governments.