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Author Question: All other things constant, goods will have more __________ demand if their price uses up a ... (Read 12 times)

tfester

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on: Jul 1, 2018
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


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Li Jun

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Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

A


tfester

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

dawsa925

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Reply 3 on: Yesterday
Excellent

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