Multiple Choice
The determinants of price elasticity of demand include:
A) availability of substitutes, cost relative to benefit, and scope of market.
B) degree of necessity, cost relative to income, scope of market, and adjustment time.
C) availability of complements, cost relative to income, and scope of market.
D) cost relative to income, scope of demand, and adjustment time.
Correct Answer:

Verified
Correct Answer:
Verified
Q19: If a good has an elastic demand,
Q50: A horizontal demand curve indicates:<br>A) a perfectly
Q51: The price elasticity ofdemand for insulin is:<br>A)
Q52: Suppose price increases from $9.00 to $11.00.Using
Q53: An increase in price:<br>A) cannot cause a
Q54: A perfectly inelastic demand:<br>A) means people will
Q56: A rare coin dealer is likely to
Q57: The demand for Farm fresh brand apple
Q58: When price was 10,quantity demanded was 50.When
Q59: If the price of butter increases 5