The demand for electricity has been found to be inelastic.The most likely explanation for this finding is that
A) electricity is a luxury.
B) the fraction of income spent on electricity is trivial.
C) few substitutes exist for electricity.
D) electricity is a monopoly market.
E) pollution regulation has made electricity expensive.
Correct Answer:
Verified
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
Q120: Generally speaking,demand for a good will be
Q121: If,as price falls from $10 to $9,quantity
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
Q126: From 1981,when IBM introduced the PC standard
Q127: If the demand for computers is elastic,this
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