If Demand Is Unit Elastic, Then

question 376

Multiple Choice

If demand is unit elastic, then

• A) a ten percent increase in price leads to a one percent decrease in quantity demanded.
• B) the unit change in quantity demanded equals the unit change in price.
• C) a two percent increase in price leads to a two percent decrease in quantity demanded.
• D) an increase in price of any amount leads to quantity demanded falling to zero.

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Definitions:

Moral Development

The process through which individuals develop proper attitudes and behaviors toward other people in society, based on social and cultural norms, rules, and laws.

Preconventional

A term from Kohlberg's stages of moral development referring to the earliest level, where moral understanding is based primarily on consequences and compliance with rules.

Moral Development

The process through which individuals develop an understanding of right and wrong, evolving through stages of moral reasoning.

Conventional

Pertaining to commonly accepted norms or standards.