A Local Store Noticed That When It Increased the Price

question 35

Multiple Choice

A local store noticed that when it increased the price of milk from $2.50 to $3.50 per gallon,it sold 33% less milk.Since everything else remained the same,we would say the

• A)demand for milk is perfectly elastic
• B)demand for milk is elastic
• C)demand for milk is perfectly inelastic
• D)demand for milk is unitary elastic
• E)law of supply does not apply in this situation

---

Definitions:

Influence Tactics

Strategies or methods used by individuals or groups to alter or guide the behavior or attitudes of others.

Influence Tactics

Strategies used by individuals to persuade or guide others' behaviors and attitudes towards desired outcomes.

Forming a Coalition

The process of bringing together multiple individuals or groups with a common interest to achieve a specific goal or undertake a joint initiative.