A determinant of the price elasticity of demand is
A) whether the good is a durable or a nondurable.
B) the availability of resources used in the production of the product.
C) how well consumers like the good.
D) the proportion of the consumer's total budget spent on the good.
D
Economics
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The table above shows the marginal benefit from pizza and the marginal cost of pizza in cans of soda forgone. The allocatively efficient quantity of pizza is ________ pizzas per day
A) 70 B) 10 C) more than 70 D) 40
Economics
A steep IS curve implies that
A) an increase in money supply will change output by a relatively small amount. B) a decrease in taxes will change output by a relatively small amount. C) changes in money supply will have large multiplier effects on output. D) A and B.
Economics