If the Price of a Good Falls by 10% and the Percentage

question 119

Multiple Choice

If the price of a good falls by 10% and the percentage increase in the total amount consumers spend on the good is 15% then the good is

• A)elastic.
• B)inelastic.
• C)unit elastic.
• D)perfectly inelastic.

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Definitions:

AIDA Approach

A marketing strategy acronym that stands for Attention, Interest, Desire, and Action, which outlines the stages a consumer should go through from viewing a product to purchasing it.

Persuasive Messages

Communications crafted with the intent to influence the attitudes, beliefs, or behaviors of the recipient.

Application Letter

A document submitted with a job application explaining the applicant's credentials and interest in the open position.

Salary Requirements

The compensation a job applicant expects or requests for their services, usually stated during the job application process.