Solved

For Which of the Following Is Demand Likely to Be

Question 137

Multiple Choice

For which of the following is demand likely to be the most price elastic?


A) a good for which there are no close substitutes
B) a good for which there are no easily-obtained substitutes
C) a good with close substitutes that are difficult to obtain
D) a good that is no longer being produced
E) a good for which close substitutes are easily obtained

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q132: The supply of a good is more

Q133: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3973/.jpg" alt=" -Figure 5-4 shows

Q134: If the price elasticity of demand for

Q135: If the demand for good A is

Q136: The effect of a change in the

Q138: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB3973/.jpg" alt=" -If demand for

Q139: If the percentage change in quantity demanded

Q140: If the income elasticity of demand for

Q141: Suppose that a local supermarket sells apples

Q142: The more narrowly a good is defined,the<br>A)easier