When Demand Is Elastic, a Decrease in Price Will

question 397

Multiple Choice

When demand is elastic, a decrease in price will

• A) decrease total revenue.
• B) not change total revenue.
• C) increase total revenue.
• D) reduce quantity demanded.

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Definitions:

Linguistic Determinism

Theory that describes how the use of language determines or influences thoughts and perceptions.

Sapir-Whorf Hypothesis

Based on the principles of linguistic determinism and linguistic relativity, the hypothesis that language shapes our thoughts and culture, and our culture and thoughts affect the language we use to describe our world.

Linguistic Relativity

Theory that each language includes some unique features that are not found in other languages.

Malapropism

The mistaken use of a word in place of a similar-sounding one, often with unintentionally amusing effect.