Exhibit 16

question 64

Multiple Choice

Exhibit 16.2.Typically,the sales volume declines with an increase of a product price.It has been observed,however,that for some luxury goods the sales volume may increase when the price increases.The following Excel output illustrates this rather unusual relationship. Refer to Exhibit 16.2.For the considered range of the price,the relationship between Price and Sales should be described by a:

• A)concave function.
• B)hyperbola.
• C)convex function.
• D)linear function.

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Definitions:

Asians

People originating from or having ancestry in Asia, a continent that includes a diverse range of cultures, languages, and histories.

Steering

In the context of real estate, the practice of influencing home buyers' choices based on race or ethnicity, often leading to housing segregation.

Upper-class Black Family

African American families who have achieved high socioeconomic status, navigating unique socio-cultural challenges and stereotypes.

Realtor

A professional in the real estate industry who is a member of the National Association of Realtors and adheres to its code of ethics, involved in buying, selling, or renting properties.