Which of the Following Tends to Make Demand for a Good

question 99

Multiple Choice

Which of the following tends to make demand for a good more elastic?

• A)A reduction in the number of substitutes for the good.
• B)Consumers have a long time to adjust to a price change.
• C)The amount spent on the good is a small proportion of the consumer's budget.
• D)The good is broadly defined.
• E)The good is a necessity.

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Definitions:

Small Chunks

Breaking down information into smaller, more manageable pieces for easier understanding.

Message Distribution

The process of delivering information or content to a targeted audience through various channels and methods.

Cost Considered

Taking into account the expense or financial implication of an action, decision, or project.

Multimedia Productions

The process of creating content that uses a combination of different content forms such as text, audio, images, animations, video, and interactive content.