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Author Question: A product's price elasticity of demand is likely to be greater (Read 74 times)

Melani1276

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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
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Marked as best answer by Melani1276 on May 24, 2019

nixon_s

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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.
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Melani1276

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Reply 2 on: May 24, 2019
Great answer, keep it coming :)

Chelseyj.hasty

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Reply 3 on: Yesterday
Excellent

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