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Author Question: A product would be more demand price inelastic: a. the shorter the time the consumer has to adjust ... (Read 60 times)

j.rubin

  • Hero Member
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  • Posts: 557
on: Jun 30, 2018
A product would be more demand price inelastic:
 a. the shorter the time the consumer has to adjust to price changes.
  b. the higher the price of the good.
  c. the more the number of good substitutes.
  d. the less the essential nature of the good.
  e. if the supply is more price elastic.

Question 2

A product would be more demand price elastic:
 a. the shorter the time the consumer has to adjust to price changes.
  b. the lower the price of the good.
  c. the fewer the number of good substitutes.
  d. the less the essential nature of the good.
  e. if the supply is more price elastic.


durant1234

  • Sr. Member
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  • Posts: 338
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

d


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