A Firm That Attempts to Pass Along the Cost of Higher

question 15

Multiple Choice

A firm that attempts to pass along the cost of higher union wages to consumers in the form of higher prices will be more successful if the price elasticity of demand for its product is

• A)Inelastic.
• B)Elastic.
• C)Unitary.
• D)Perfectly elastic.

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Definitions:

Opposition

The movement of the thumb to touch the tips of the other fingers on the same hand, enabling grasping and manipulation of objects.

Adduction

The movement of a body part toward the central axis of the body or toward another part, as in bringing arms or legs closer to the torso.

Lateral Flexion

A movement that bends the spine sideways to the left or right.

Hyperextension

An excessive extension of a limb or part beyond its normal limit, often resulting in injury.