Generally speaking,demand for a good will be more inelastic
A) if few substitutes exist.
B) when the good represents a large share of the consumer's budget.
C) in the long run.
D) when many substitutes exist.
E) if the good is a necessity.
Correct Answer:
Verified
Q115: A firm wishes to increase its total
Q116: The price elasticity of demand for apartments
Q117: The percentage change in quantity demanded divided
Q118: The price elasticity of demand measures the
Q119: Goods with few substitutes
A) are classified as
Q121: If,as price falls from $10 to $9,quantity
Q122: The demand for electricity has been found
Q123: Firms that produce goods with many substitutes
Q124: Zero price elasticity occurs when
A) total utility
Q125: Kuo S.Huang estimated the elasticity of demand
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents