The price elasticity of demand coefficient for a good will be greater:
a. if close substitutes exist.
b. if minor complements exist.
c. in the short-run.
d. if a small portion of the budget will be spent on it.
a
Economics
You might also like to view...
In general, the supply curve for a natural resource
A) slopes upward. B) slopes downward to reflect decreasing available quantities over time. C) is horizontal. D) is vertical.
Economics
Between 1995 and 2015, the U.S. trade with China went from a
A. small deficit to a small surplus. B. small surplus to a small deficit. C. small surplus to a larger surplus. D. large deficit to an even larger deficit.
Economics