The Price Elasticity of Demand for Red Delicious Apples,a Certain

question 43

Multiple Choice

The price elasticity of demand for Red Delicious apples,a certain type of apple,is likely

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

---

Definitions:

Shares

Units of ownership interest in a company or financial asset that provide for an equal distribution in any profits, if any are declared, in the form of dividends.

Dividends

Dividends are payments made by a corporation to its shareholder members, reflecting a portion of the corporate profits allocated for distribution.

Net Income

The total profit of a company after all expenses, including taxes and operating costs, are subtracted from total revenue.

Revenue

The income received by a company from its business activities, usually from the sale of goods and services to customers.