If the Demand for Swordfish Is Price Elastic and the Price

question 104

Multiple Choice

If the demand for swordfish is price elastic and the price of swordfish increases, then

• A)the quantity of swordfish demanded will increase
• B)the total revenue from swordfish sales will decrease
• C)the total revenue from swordfish sales will increase
• D)the total revenue from swordfish sales will not change
• E)whether total revenue rises or falls depends on how much the price of swordfish increases

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Definitions:

Rapport

A close and harmonious relationship in which the people or groups understand each other's feelings or ideas and communicate well.

Conflict Management

The practice of identifying and handling conflicts in a sensible, fair, and efficient manner, with the goal of reaching a resolution.

Accommodation

The process of adjusting or adapting oneself to different conditions, environments, or circumstances.

Avoidance

Conflict management style that involves backing off and trying to sidestep conflict.