If a Good Is a Necessity with Few Substitutes, Then

question 139

Multiple Choice

If a good is a necessity with few substitutes, then the price elasticity of demand will tend to be:

• A) more price elastic.
• B) less price elastic.
• C) equal to -1.
• D) the same as that of a luxury good.

---

Definitions:

Polygenic Inheritance

A pattern in which many genes all influence a single trait.

Phenylketonuria

A genetic disorder characterized by the body's inability to metabolize the amino acid phenylalanine, leading to its accumulation and potential brain damage.

Schizophrenia

A severe mental disorder characterized by disruptions in thought processes, perceptions, emotional responsiveness, and social interactions.

Bipolar Disorders

Mental health conditions characterized by extreme mood swings, including emotional highs (mania or hypomania) and lows (depression).