Which of the Following Is Not Characteristic of the Demand

question 165

Multiple Choice

Which of the following is not characteristic of the demand for a commodity that is elastic?

• A)The relative change in quantity demanded is greater than the relative change in price.
• B)Buyers are relatively sensitive to price changes.
• C)Total revenue increases if price is increased.
• D)The elasticity coefficient is greater than one.

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Definitions:

Disclosures

The act of making known to the public or to relevant parties important information, often related to financial data or operational details, required by law or regulation.

Sublease

An arrangement where the original tenant leases part or all of the leased property to another party.

Landlord

An individual or entity that owns property and rents it out to tenants.

Realty

Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; also known as real estate.