Most People Buy Salt Infrequently and in Small Quantities

question 217

Multiple Choice

Most people buy salt infrequently and in small quantities.Even a doubling of the price of salt is likely to result in a small decline in the quantity of salt demanded.Therefore

• A)the demand for salt will be perfectly inelastic.
• B)salt is a normal good.
• C)the demand for salt is relatively inelastic.
• D)the price elasticity of demand for salt is greater than 1 (in absolute value).

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Definitions:

Relationship Leader Behavior

Leadership actions focused on establishing and maintaining positive interactions and connections with and among team members.

Behavioral Approach

A perspective in psychology and leadership focusing on observable behaviors, suggesting that leadership is a specific set of actions that can be learned and perfected by anyone.

Conclusive

Referring to something that settles a matter or conflict definitively and with certainty.

Prescriptive

Offering or providing recommendations or rules on how something should be done or approached.