When Demand Is Unit Elastic, a Change in Price Causes

question 8

Multiple Choice

When demand is unit elastic, a change in price causes total revenue to stay the same because

• A)the percentage change in quantity demanded exactly offsets the percentage change in price.
• B)buyers are buying the same quantity.
• C)total revenue never changes with price changes.
• D)the change in profit is offset by the change in production cost.

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Definitions:

Followers Expectations

The beliefs or hopes that followers have regarding the actions or behaviors of leaders within an organization or group.

Transformational Leaders

Leaders who inspire and motivate followers to achieve extraordinary outcomes and, in the process, develop their own leadership capacity.

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A clear, comprehensive, and forward-looking view of the direction and aspirations of an organization, its purpose, goals, and the means to achieve them.

Superordinate Goal

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