The demand for a good is more price elastic
A) if closer substitutes are available.
B) if the good is a necessity rather than a luxury.
C) if the share of the good in the average consumer's budget is smaller.
D) in the short run than in the long run.
A
Economics
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If investment increases by $100, then the aggregate expenditure model concludes that equilibrium expenditure
A) increases by $100. B) increases by less than $100. C) decreases by $100. D) remains unchanged. E) increases by more than $100.
Economics
Real GDP equals $12 trillion and aggregate hours equals 300 billion hours. What does labor productivity equal?
What will be an ideal response?
Economics