Assume That When the Price of Cantaloupes Is $2

question 269

Multiple Choice

Assume that when the price of cantaloupes is $2.50 the demand for cantaloupes is unit-elastic, and that the demand curve for cantaloupes is linear and downward sloping.If firms lower the price of cantaloupes to $2.00 which of the following statements can be made regarding the price elasticity of demand for cantaloupes?

• A)The demand for cantaloupes at $2.00 must be inelastic.
• B)We cannot determine whether the demand for cantaloupes is elastic or inelastic without knowing what the quantity demanded is at each price.
• C)The demand for cantaloupes at $2.00 must be elastic.
• D)The demand for cantaloupes at $2.00 must be unit elastic.

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Definitions:

Inpatient Hospice Agency

A healthcare service that provides end-of-life care to patients in a dedicated facility, focusing on pain management and emotional support rather than curative treatments.

Hospice Care

A model of medical care designed to provide comfort and support to patients and their families during the end stages of a terminal illness.

Acute Care Hospitals

Acute care hospitals are healthcare facilities that provide immediate medical attention for severe, episodic conditions, surgical procedures, or recovery from acute illness or surgery.

Hospice Programs

Care programs designed to provide comfort and support to patients and their families during the final phase of a terminal illness, focusing on palliative care rather than curative treatment.