Author Question: A product would be more demand price inelastic: a. the shorter the time the consumer has to adjust ... (Read 56 times)

j.rubin

  • Hero Member
  • *****
  • Posts: 557
A product would be more demand price inelastic:
 a. the shorter the time the consumer has to adjust to price changes.
  b. the higher the price of the good.
  c. the more the number of good substitutes.
  d. the less the essential nature of the good.
  e. if the supply is more price elastic.

Question 2

A product would be more demand price elastic:
 a. the shorter the time the consumer has to adjust to price changes.
  b. the lower the price of the good.
  c. the fewer the number of good substitutes.
  d. the less the essential nature of the good.
  e. if the supply is more price elastic.



durant1234

  • Sr. Member
  • ****
  • Posts: 338
Answer to Question 1

a

Answer to Question 2

d



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Did you know?

Thyroid conditions may make getting pregnant impossible.

Did you know?

It is widely believed that giving a daily oral dose of aspirin to heart attack patients improves their chances of survival because the aspirin blocks the formation of new blood clots.

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

For a complete list of videos, visit our video library