The Price Elasticity of Demand

question 36

Multiple Choice

The price elasticity of demand

• A)is of no use to producers
• B)tells producers what will happen to total profit if they change product price
• C)tells producers what will happen to quantity supplied if they change product price
• D)tells producers what will happen to total revenue if they change product price
• E)tells producers what will happen to price in the following time period

Comprehend the strategies and theories behind social movements and their evolution in Canada.

Grasp the importance and mechanisms of resource mobilization for social movements.

Understand the role of frame alignment in promoting or hindering social movements.

Recognize the impact of social movements on achieving citizenship rights and social change.

---

Definitions:

Public Good

A good that is non-excludable and non-rivalrous, meaning it can be consumed by anyone without reducing its availability to others.

Marginal Revenue

The additional revenue generated from selling one more unit of a good or service.

Externalities

Economic side effects or consequences that affect uninvolved third parties; can be either positive or negative.

Externality

Actions of one party impose costs or benefits on a second party.