If the Demand for a Good Is Inelastic, Then

question 47

Multiple Choice

If the demand for a good is inelastic, then:

• A) revenues increase when the price goes up.
• B) revenues decrease when the price goes up.
• C) any change in price is matched by an equal and opposite percentage change in quantity, so revenues stay the same.
• D) revenues decrease regardless of the direction of the price change.

---

Definitions:

One Union

Represents the concept of a single trade union that workers can join within a certain industry or company, aiming for unified representation and bargaining power.

Disputes

Conflicts or disagreements that arise between parties, typically in a workplace or industrial setting, over issues such as conditions, salaries, or policies.

Member Unions

Organizations that belong to a larger federation or confederation of labor unions, representing various sectors or professions.

Represent

To act or speak officially for someone or something, especially in a legal or political context.