Which factor does not affect the elasticity of demand for a good?
(A) The importance of the good to the consumer.
(B) The availability of substitute goods.
(C) The consumer's perception of the good as necessity or luxury.
(D) An increase in population.
Ans: (D) An increase in population.
Economics
You might also like to view...
If net exports are positive for China, it must be true that China is experiencing net outflows of capital
Indicate whether the statement is true or false
Economics
By adding internal costs to external costs, we determine the total
A) private cost. B) social cost. C) psychological cost. D) marginal cost.
Economics