This topic contains a solution. Click here to go to the answer

Author Question: All other things constant, goods will have more __________ demand if their price uses up a ... (Read 25 times)

tfester

  • Hero Member
  • *****
  • Posts: 534
All other things constant, goods will have more __________ demand if their price uses up a __________ proportion of a consumer's budget.
 a. price-elastic; greater
  b. unit-elastic; smaller
  c. price-elastic; smaller
  d. price-inelastic; greater
  e. stable; greater

Question 2

A good that takes up a very large percentage of the consumer's budget will tend to have
 a. an elastic demand
  b. a perfectly elastic demand
  c. an inelastic demand
  d. an upward-sloping demand curve
  e. very many substitutes



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Li Jun

  • Sr. Member
  • ****
  • Posts: 335
Answer to Question 1

A

Answer to Question 2

A




tfester

  • Member
  • Posts: 534
Reply 2 on: Jul 1, 2018
Excellent


bitingbit

  • Member
  • Posts: 323
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

Did you know?

The average adult has about 21 square feet of skin.

For a complete list of videos, visit our video library