For many goods, the price elasticity of demand increases over time because
A) people's incomes tend to increase over time.
B) inflation increases all prices and incomes over time.
C) the ability to find substitutes for a good whose price has risen increases over time.
D) None of the above answers is correct.

Question

Quizplus · Accepted Answer

Over time, consumers have more opportunities to find substitutes for a good, making the demand more elastic.

For Many Goods, the Price Elasticity of Demand Increases Over