Suppose Demand Can Be Written As $\mathrm { P } = 5$

question 4

Multiple Choice

Suppose demand can be written as $\mathrm { P } = 5$ .The elasticity of demand is

• A)increasing as price rises.
• B)decreasing as price rises.
• C)constant regardless of prices and perfectly elastic.
• D)constant regardless of prices and unit elastic.

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Definitions:

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Acting in ways consistent with what society and individuals typically think are good values, involving honesty, fairness, and integrity.

Puffery

Exaggerated or promotional claims not intended to be taken literally, used in advertising and marketing.

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The act of falsely or misleadingly presenting facts or information.

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