Multiple Choice
Mary loves avocados and must consume avocados every week, regardless of the price. Which of the following must be true?
A) Mary has an inelastic demand for avocados.
B) Avocados are in large supply in the market.
C) Mary has an elastic demand for avocados.
D) All consumers in the market have a high demand for avocados.
Correct Answer:
Verified
Correct Answer:
Verified
Q42: Milk is an inexpensive good that most
Q43: The price of milk at the local
Q44: When the percentage change in price is
Q45: A measure of how responsive buyers are
Q46: If a good is a necessity with
Q48: The demand curve for one particular brand
Q49: The price of cakes rises by 15%.
Q50: (Figure: Estimating Price Elasticity in the Market
Q51: If the price of a good increases
Q52: (Figure: Demand Curves) The figure shows four