Multiple Choice
The demand for a product will be more elastic:
A) the shorter the time period under consideration.
B) the smaller the percentage of one's budget spent on it.
C) if it is a necessity.
D) the greater the number of substitutes for it.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q8: The demand schedule shows how much of
Q9: One can expect the elasticity of demand
Q10: Which of the following characteristics does not
Q11: If the market price for houses is
Q12: If the demand for a product is
Q14: If construction workers achieve a wage increase
Q15: One can expect the elasticity of supply
Q16: The demand for a product tends to
Q17: If the market for automobiles is in
Q18: Which of the following will increase a