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Author Question: For which of the following is demand most likely to be price inelastic? a. lamb b. meat c. veal ... (Read 34 times)

JMatthes

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For which of the following is demand most likely to be price inelastic?
 a. lamb
  b. meat
  c. veal
  d. pork
  e. beef

Question 2

The more broadly a good is defined,
 a. the more substitutes it has so the more elastic is its demand
  b. the fewer substitutes it has so the more elastic is its demand
  c. the more substitutes it has so the less elastic is its demand
  d. the fewer substitutes it has so the less elastic is its demand
  e. the more complements it has so the more elastic is its demand



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frejo

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Answer to Question 1

B

Answer to Question 2

D




JMatthes

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  • Posts: 578
Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it


Dominic

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Reply 3 on: Yesterday
Excellent

 

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