A given change in supply will yield a larger change in the quantity demanded the _____ a. more plentiful are substitutes for the good. b. longer the time frame under consideration. c. larger the percent of income spent on the good of interest. d. all of these answers are correct.

A given change in supply will yield a larger change in the quantity demanded the _____ a. more plentiful are substitutes for the good. b. longer the time frame under consideration. c. larger the percent of income spent on the good of interest. d. all of these answers are correct.

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter8: Understanding Markets And Industry Changes

Section: Chapter Questions

Problem 1MC

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Question

A given change in supply will yield a larger change in the quantity demanded the _____

a. more plentiful are substitutes for the good.

b. longer the time frame under consideration.

c. larger the percent of income spent on the good of interest.

d. all of these answers are correct.

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