Solved

Milk Is an Inexpensive Good That Most Would Consider a Necessity

Question 42

Multiple Choice

Milk is an inexpensive good that most would consider a necessity. You would therefore expect its demand to be:

A) elastic.
B) inelastic.
C) unit-elastic.
D) driven by the supply price.

Related Questions

Q37: When the price of profiteroles decreases from

Q38: The price of product A is cut

Q39: Delilah's income rises by 8%. She decides

Q40: If quantity demanded does not respond significantly

Q41: Taking the absolute value of the income

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

Q47: Mary loves avocados and must consume avocados