1. The two types of package labeling in common usage today are:

a. government-mandated and seller-controlled

b. functional and persuasive

c. motivational and required

d. informational and persuasive

e. promotional and nonpromotional

2. What happens when demand is elastic?

a. As price goes up, revenue goes down.

b. As price goes down, revenue does not change.

c. As price goes up, revenue goes up.

d. As price goes up, revenue does not change.

e. As price goes down, revenue goes down.