28) The price elasticity of demand for a good is relatively elastic if: A) there are a large number of substitutes. B) the consumer has more time to make decisions about purchasing the good. C) the good is less of a necessity. D) all of the above

28) The price elasticity of demand for a good is relatively elastic if: A) there are a large number of substitutes. B) the consumer has more time to make decisions about purchasing the good. C) the good is less of a necessity. D) all of the above

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter6: Elasticity

Section6.2: Elasticity: Part 2

Problem 1ST

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Question

28) The price elasticity of demand for a good is relatively elastic if:
A) there are a large number of substitutes.
B) the consumer has more time to make decisions about purchasing the good.
C) the good is less of a necessity.
D) all of the above

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