Which of the following is true for a lower price elasticity of demand coefficient?
a. The market is broadly defined.
b. The quantity demanded is more responsive.
c. Few substitutes exist.
d. Many substitutes exist.
e. All of these.
c
Economics
You might also like to view...
The smallest single component of M1 is
A) other checkable deposits. B) traveler's checks. C) savings account balances. D) demand deposits.
Economics
An international organization formed with the aim of promoting world economic growth through financial stability is called
A) the International Finance Corporation. B) the International Monetary Fund (IMF). C) the International Development Association. D) the World Bank.
Economics