The Figure Given Below Shows the Demand Curves for Five

Multiple Choice

The figure given below shows the demand curves for five products: A, B, C, D, and E.Figure 6.1

-Demand for a good becomes more elastic as:

A) the number of substitutes available declines.
B) the time period under consideration becomes shorter.
C) a good makes up a larger percentage of a consumer's budget.
D) a good makes up a smaller percentage of a consumer's budget.
E) the producer has more time to respond to price changes.