Multiple Choice
The longer the time that has elapsed since a price change the more time consumers will have to respond to price changes. As a result, demand becomes
A) zero.
B) more inelastic.
C) more elastic.
D) perfectly inelastic.
E) unit elastic.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q11: The demand for a good is price
Q12: The demand for good A is unit
Q13: When the price of a good increased
Q14: Luxury goods tend to have income elasticities
Q17: The demand for a good will be
Q18: If a rise in the price of
Q36: Use the figure below to answer the
Q62: Supply is elastic if<br>A)a small percentage change
Q88: When Erika's income increases by 6 percent,her
Q103: If the demand for good Z is