Which of the Following Statements Regarding Price Elasticity Is False

question 29

Multiple Choice

Which of the following statements regarding price elasticity is false?

• A) The concept of price elasticity is an extension of the economic pricing model.
• B) Demand is elastic if a price change has a large negative impact on sales volume.
• C) Demand is elastic if price changes have no impact on sales volume.
• D) Measuring price elasticity is an important objective of market research.
• E) Demand is relatively inelastic if price changes have little impact on sales quantity.

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Definitions:

Doses

The measured quantity of a medicine or drug to be taken at one time or at certain intervals.

Kilometers

A unit of length in the metric system equal to 1,000 meters, often used to measure distances between geographical locations.

Meters

The base unit of length in the International System of Units (SI), equivalent to 100 centimeters or approximately 39.37 inches.

Millimeters (Mm)

A unit of length in the metric system equal to one thousandth of a meter.