College Students and Faculty Members Have a More Elastic Demand

question 242

Multiple Choice

College students and faculty members have a more elastic demand than the general public for Apple's iMac desktop computers.From this we can conclude that

• A)Apple will charge college students and faculty members higher prices than it charges the general public.
• B)Apple will charge college students and faculty members lower prices than it charges the general public.
• C)the general public will earn arbitrage profits by buying iMac desktop computers from Apple and reselling them to college students and faculty members.
• D)Apple will earn economic profits from the computers it sells to the general public but will break even on the computers it sells to college students and faculty members.

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Definitions:

Cognitive-behavioral Therapy

A psychotherapeutic approach that addresses dysfunctional emotions, behaviors, and cognitions through a goal-oriented, systematic process.

Rational-emotive Therapy

A form of cognitive-behavioral therapy focusing on identifying and altering irrational beliefs that lead to emotional and behavioral issues.

Social Gatherings

Events where multiple people come together to engage in activities or interact for purposes of entertainment, community, or socializing.

Group Therapy

A form of psychotherapy that involves one or more therapists working with several people at the same time, beneficial for improving social skills and learning from others' experiences.