When the Percentage Change in Price Is Greater Than the Resulting

question 232

Multiple Choice

When the percentage change in price is greater than the resulting percentage change in quantity demanded,

• A)a decrease in price will increase total revenue.
• B)demand may be either elastic or inelastic.
• C)an increase in price will increase total revenue.
• D)demand is elastic.

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Definitions:

Time Pressure

The stress experienced when the amount of time available to complete a task is perceived to be insufficient.

Presenteeism

The act of attending work while not fully functioning due to illness or other medical conditions, which can decrease productivity.

Presenteeism

The phenomenon where employees attend work while sick, resulting in productivity loss and potential health complications for themselves and others.

Defence Mechanism

Psychological strategies used unconsciously by individuals to protect themselves from anxiety or to maintain a sense of self-esteem.