Which of the Following Is True

question 264

Multiple Choice

Which of the following is true?
i.The demand for a good is elastic if when its price changes,the percentage change in the quantity demanded exceeds the percentage change in price.
ii.Price elasticity of demand equals the percentage change in price divided by the percentage change in the quantity demanded.
iii.If demand is price inelastic,a rise in price leads to a decrease in total revenue.

• A) only i
• B) only ii
• C) only iii
• D) i and ii
• E) ii and iii

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Definitions:

Brick-and-Mortar Retailers

Physical stores that operate in a traditional storefront location, offering products and services in-person to customers.

Newspaper Advertising

A form of advertising that involves placing promotions or advertisements in the print versions of local or national newspapers.

Magazine Advertising

A form of print marketing that involves placing promotional content in periodical publications to reach specific target audiences.

Television Advertising

A method of marketing communication that uses TV broadcasts to convey promotional messages to a large audience.