Which of the following is a determinant of the price elasticity of demand for an item?
A) the availability of a close substitute for the item
B) the percentage of a consumers budget allocated to expenditures on the item
C) the amount of time available to adjust to a change in the price of the item
D) All of the above are correct.
D
Economics
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Economic variables that tend to move in tandem with the overall phases of the business cycle are called leading indicators
Indicate whether the statement is true or false
Economics
Public elementary and high school education in the United States is provided
A) as a free good. B) as a subsidized good. C) at the market clearing price. D) in an amount less than the equilibrium quantity.
Economics