4. Which of the following will NOT affect the price elasticity of demand for frozen peas? A The availability of substitutes. B The price in relationship to consumer incomes. C The perishability of frozen peas. D The availability of raw vegetables.

4. Which of the following will NOT affect the price elasticity of demand for frozen peas? A The availability of substitutes. B The price in relationship to consumer incomes. C The perishability of frozen peas. D The availability of raw vegetables.

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter4: The Market Forces Of Supply And Demand

Section: Chapter Questions

Problem 5CQQ

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Question

4. Which of the following will NOT affect the price elasticity of demand for frozen peas?
A The availability of substitutes.
B The price in relationship to consumer incomes.
C The perishability of frozen peas.
D The availability of raw vegetables.
5. Macroeconomics is the study of:
A Economy-wide phenomena.
B Choices individual consumers make.
C Consumption and production decisions consumers and firms take.
D How firms maximise profit.

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