If the Calculated Price Elasticity of Demand Between Two Points

question 19

Multiple Choice

If the calculated price elasticity of demand between two points is -1.5, demand is

• A) inelastic.
• B) elastic.
• C) unresponsive to price.
• D) unit-elastic.

---

Definitions:

Industry Needs

The demands or requirements within a specific industry that businesses need to meet to be successful, including workforce skills, technological advancements, and regulatory compliance.

Unionized Firms

Companies or organizations where a majority of the workforce is a member of a union, which represents the employees in negotiations with the employer about wages, working conditions, and other employment terms.

Labor Unions

Organizations formed by workers to protect their rights and interests, often engaging in negotiations with employers over wages, benefits, and working conditions.

Human Resource Strategy

The strategic framework that outlines how an organization intends to manage and develop its workforce to achieve its business objectives.