Compared to the 1980s, the Price of Computer Chips Is

question 232

Multiple Choice

Compared to the 1980s, the price of computer chips is much lower today and revenues from computer chips are _____ because demand is _____.

• A) higher; elastic
• B) lower; inelastic
• C) approximately unchanged; unit elastic
• D) higher; inelastic

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Definitions:

Demographic Data

Statistical data relating to the population and particular groups within it, such as age, sex, income, and education.

Youngest Population

Refers to the portion of a population that is of the youngest age groups, often used in demographic analyses.

Demographic Data

Statistical data relating to the population and particular groups within it, such as age, race, gender, and income.

World Population

The total number of living humans on Earth at a given time.