Other things being equal, demand is more elastic if
A) the good is less expensive the good.
B) the time period for adjustment is shorter.
C) a family spends a larger percentage of its budget on the good.
D) the good is more unique.
Answer: C
Economics
You might also like to view...
In the above table, the marginal product of the fourth worker is
A) 1. B) 3. C) 4. D) 6.
Economics
During most of the 1990s, average hours worked per week ____, then, after 2000 . started to ____
a. rose steadily; level off b. remained virtually constant; drop slowly. c. were on the upswing; fall slowly. d. continued to decline; level off
Economics