Author Question: Demand for clothing tends to be a. elastic because there are few substitutes for clothing b. ... (Read 70 times)

codyclark · **on:** Jul 1, 2018

Demand for clothing tends to be
a. elastic because there are few substitutes for clothing
b. inelastic because there are few substitutes for clothing
c. elastic because expenditures for clothing represent a large part of the consumer's budget
d. inelastic because expenditures for clothing represent a large part of the consumer's budget
e. elastic because it is a broadly defined good

Question 2

A successful advertising campaign would likely
a. increase price elasticity of demand by stressing the uniqueness of the product
b. reduce price elasticity of demand by stressing the uniqueness of the product
c. reduce price elasticity of demand by informing consumers of the availability of substitutes
d. not alter the demand curve
e. generally make the demand curve shift inward