Suppose That There Is Only One Small Clothing Store in the Remote

question 57

Multiple Choice

Suppose that there is only one small clothing store in the remote village of Green Acres,and until recently all of the townspeople bought most of their shirts there.As more people in Green Acres become connected to the Internet,the price elasticity of demand for shirts at the Green Acres store will:

• A)increase because the Internet offers more substitutes.
• B)decrease because the Internet offers more substitutes.
• C)remain the same,but the quantity demanded will decrease as more people shop online.
• D)remain the same,but the quantity will decrease as more people shop online.

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Definitions:

Conflicting Signals

Mixed or contradictory indications, often in communication, that can cause confusion or misinterpretation.

Conceptual Framework

An analytical tool that is used to organize ideas and establish a structure for thinking about a problem or study.

Treating Others

The manner in which individuals interact with, consider, and care for other people.

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A guideline that governs the expected behaviors and manners in social or professional settings.