If consumer purchases of a good are not very sensitive to the price of the good, economists say the demand for the good is relatively
a. inelastic.
b. elastic.
c. robust.
d. inverse.
A
Economics
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If a monopoly engages in first-degree price discrimination:
A) social surplus is maximized. B) consumer surplus is maximized. C) producer surplus is minimized. D) the deadweight loss is maximized.
Economics
Can the incidence of a sales tax ever be so that buyers pay all of the tax or so that sellers pay all of the tax?
What will be an ideal response?
Economics