If an Increase in the Price of Pepsi Prompts Some

question 15

Multiple Choice

If an increase in the price of Pepsi prompts some consumers to buy close substitutes,the demand for Pepsi is _____

• A)relatively price elastic.
• B)relatively income elastic.
• C)relatively price inelastic.
• D)unit elastic.
• E)perfectly elastic.

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Definitions:

Posting Reference

An alphanumeric code or number used in accounting to indicate the ledger account that a journal entry has been posted to.

Journal Entry

A record of a financial transaction in an accounting system, detailing the accounts affected and the amounts debited and credited.

Transferring Debits

The process of moving debit entries from one account to another in accounting, typically to ensure accuracy in financial records.

Credits

A bookkeeping entry that raises a liability or equity account or lowers an asset or expense account.