Which of the Following Is a Characteristic of an Item

question 38

Multiple Choice

Which of the following is a characteristic of an item with elastic demand?

• A)A price that accounts for a small percentage of consumers' incomes
• B)A short time period under consideration
• C)A small number of competitors selling the product
• D)Many substitutes
• E)A high cost of production

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Definitions:

Specialty Shops

Retail stores that focus on specific product categories, offering a narrow but deep assortment of merchandise and expert knowledge.

Confederate

A person posing as a participant in an experiment who is actually part of the experiment.

Aggression

A behavior aimed at causing harm or injury to another being, driven by intent, whether out of hostility or as a means to an end.

Verbal Responses

Spoken answers or reactions to questions or stimuli, used as data in research studies.