One Reason the Demand for Electricity Is Probably More Price

question 92

Multiple Choice

One reason the demand for electricity is probably more price elastic than the demand for table salt is that

• A)people react to a change in the price of electricity in the long run but react to a change in the price of salt in the short run.
• B)there are more substitutes for electricity than for table salt.
• C)people react to a change in the price of electricity in the short run but react to a change in the price of salt in the long run.
• D)a change in the price of electricity is likely to be temporary compared to a change in the price of table salt.
• E)electricity takes up a larger proportion of one's income than does table salt.

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Definitions:

Self-Esteem Regulation

The process of maintaining and adjusting one’s feelings of self-worth and self-value in response to social interactions and personal achievements.

Personality Disorder

A type of mental disorder characterized by enduring maladaptive patterns of behavior, cognition, and inner experience, exhibited across many contexts and deviating from those accepted by the individual's culture.

Narcissistic

Characterized by excessive self-focus, self-admiration, and a lack of empathy for others, often seen in narcissistic personality disorder.