If an Increase in Price from $1

question 88

Multiple Choice

If an increase in price from $1.20 to $2 per unit leads to an increase in quantity supplied from 20 to 100 units,then _____

• A)supply is perfectly elastic.
• B)supply is perfectly inelastic.
• C)supply is unit elastic.
• D)supply is elastic.
• E)supply is inelastic.

---

Definitions:

Unique in Character

Having distinctive qualities or attributes that set something or someone apart from others.

Percentage of Sales

A financial metric used to determine the ratio of a particular expense or investment to the total sales generated.

Sales Budgeting Approach

A method for planning and controlling sales activities by estimating probable expenses and revenues over a specific period.

Competitive Parity

A strategy where a company sets its marketing budget or price levels to match those of its competitors.