This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A product's price elasticity of demand is likely to be greater (Read 30 times)

Melani1276

  • Hero Member
  • *****
  • Posts: 516
on: May 24, 2019
A product's price elasticity of demand is likely to be greater
◦ if it only has a few substitutes.
◦ if consumers spend a small proportion of income on the product.
◦ the less time consumers have to adjust to price changes.
◦ if the product is a luxury good rather than a necessity.
◦ Both answers the less time consumers have to adjust to price changes and if the product is a luxury good rather than a necessity are correct.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Melani1276 on May 24, 2019

nixon_s

  • Sr. Member
  • ****
  • Posts: 359
Reply #1 on: May 24, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 25% of students answer this correctly


Melani1276

  • Member
  • Posts: 516
Reply 2 on: May 24, 2019
:D TYSM

dyrone

  • Member
  • Posts: 322
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Adults are resistant to the bacterium that causes Botulism. These bacteria thrive in honey – therefore, honey should never be given to infants since their immune systems are not yet resistant.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Greater Flamingo Greater Flamingo
Greater sage grouse Greater sage grouse
A greater number of men than women hold full-time jobs, but the gap is closing because of an ... A greater number of men than women hold full-time jobs, but the gap is closing because of an ...
Product & Process Influences - Sterile Products Product & Process Influences - Sterile Products
A Production Function with Diminishing Marginal Product of Capital A Production Function with Diminishing Marginal Product of Capital
Excel hardware is introducing a new product on a new product line of capacity 800 units per ... Excel hardware is introducing a new product on a new product line of capacity 800 units per ...
Video: The Hypothalamus: The Body's Thermostat (Human Thermostat)

For a complete list of videos, visit our video library