« previous next »

Author Question: The demand for flour is a. inelastic because there are few substitutes for flour and it represents ... (Read 91 times)

PhilipSeeMore

  • Hero Member
  • *****
  • Posts: 561
on: Jul 1, 2018
The demand for flour is
 a. inelastic because there are few substitutes for flour and it represents a large percentage of a consumer's budget
  b. inelastic because there are many substitutes for flour and it represents a large percentage of a consumer's budget
  c. inelastic because there are few substitutes for flour and it represents a small percentage of a consumer's budget
  d. elastic because there are no substitutes for flour and it represents a large percentage of a consumer's budget
  e. elastic because there are many substitutes for flour and it represents a large percentage of a consumer's budget

Question 2

For which of the following is demand likely to be the most price inelastic?
 a. furniture
  b. automobiles
  c. hotel rooms
  d. airline travel
  e. candy bars


brittanywood

  • Sr. Member
  • ****
  • Posts: 355
Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

E


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

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 growing demand for electrical power, carbon sequestration and storage must be a priority The growing demand for electrical power, carbon sequestration and storage must be a priority
The demand for oil can be reduced significantly with the introduction of new higher vehicle mileage The demand for oil can be reduced significantly with the introduction of new higher vehicle mileage
Find the factor demand for labour and the amount of output it will produce. Show all ... Find the factor demand for labour and the amount of output it will produce. Show all ...
During a period of high power demand, the voltage output of the power company is reduced by ... During a period of high power demand, the voltage output of the power company is reduced by ...
Suppose a country imports televisions. The country's supply and demand curves are shown in ... Suppose a country imports televisions. The country's supply and demand curves are shown in ...
Video: Proteins Defined, Hierarchy & Composition of Cells

For a complete list of videos, visit our video library