Why do we say goods become more elastic over time? Question 9 options: people's incomes will increase, and so the elasticity of demand decreases. the good's price will have a chance to return to its previous level. people can find more substitutes, and so the elasticity of demand decreases. people can find more substitutes, and so the elasticity of demand increases.
Why do we say goods become more elastic over time? Question 9 options: people's incomes will increase, and so the elasticity of demand decreases. the good's price will have a chance to return to its previous level. people can find more substitutes, and so the elasticity of demand decreases. people can find more substitutes, and so the elasticity of demand increases.
Chapter5: Price Elasticity Of Demand And Supply
Section: Chapter Questions
Problem 5SQP: Suppose a university raises its tuition from 3,000 to 3,500. As a result, student enrollment falls...
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Question
Why do we say goods become more elastic over time?
Question 9 options:
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people's incomes will increase, and so the elasticity of
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the good's price will have a chance to return to its previous level.
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people can find more substitutes, and so the elasticity of demand decreases.
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people can find more substitutes, and so the elasticity of demand increases.
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