Author Question: For which of the following is demand most likely to be price inelastic? a. lamb b. meat c. veal ... (Read 75 times)

JMatthes · **on:** Jul 1, 2018

For which of the following is demand most likely to be price inelastic?
a. lamb
b. meat
c. veal
d. pork
e. beef

Question 2

The more broadly a good is defined,
a. the more substitutes it has so the more elastic is its demand
b. the fewer substitutes it has so the more elastic is its demand
c. the more substitutes it has so the less elastic is its demand
d. the fewer substitutes it has so the less elastic is its demand
e. the more complements it has so the more elastic is its demand