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 85 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

parshano

  • Member
  • Posts: 333
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

There are over 65,000 known species of protozoa. About 10,000 species are parasitic.

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

Cross-sectional data showing that the amount of effort spent on personal health care increases with Cross-sectional data showing that the amount of effort spent on personal health care increases with
Many ideologies stem from older theories. The ideas of the philosophers are simplified. Ideologies Many ideologies stem from older theories. The ideas of the philosophers are simplified. Ideologies
The Whole Is Greater than the Sum of its Parts The Whole Is Greater than the Sum of its Parts
Middle age brings greater career satisfaction than young adulthood, sometimes through major job ... Middle age brings greater career satisfaction than young adulthood, sometimes through major job ...
A Production Function with Diminishing Marginal Product of Capital A Production Function with Diminishing Marginal Product of Capital
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ... Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...
Video: Baroreceptor Reflex

For a complete list of videos, visit our video library