If a 30 Percent Price Increase Generates a 20 Percent

question 297

Multiple Choice

If a 30 percent price increase generates a 20 percent decrease in quantity demanded,then demand is

• A) inelastic.
• B) elastic.
• C) unit elastic.
• D) perfectly elastic.
• E) perfectly inelastic.

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Definitions:

Violent Content

Media or material that depicts physical force intended to hurt, damage, or kill someone or something.

Creativity

The use of imagination or original ideas to create something; inventiveness.

Cross-cultural Consistency

The phenomenon in which certain behaviors, traits, or phenomena are found to be relatively similar across different cultures.