Multiple Choice
The demand for flour is
A) inelastic because there are few substitutes for flour and it represents a large percentage of a consumer's budget
B) inelastic because there are many substitutes for flour and it represents a large percentage of a consumer's budget
C) inelastic because there are few substitutes for flour and it represents a small percentage of a consumer's budget
D) elastic because there are no substitutes for flour and it represents a large percentage of a consumer's budget
E) elastic because there are many substitutes for flour and it represents a large percentage of a consumer's budget
Correct Answer:
Verified
Correct Answer:
Verified
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