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:

Alcohol

A chemical compound commonly found in beverages such as beer, wine, and spirits, known for its psychoactive effects.

Omnipotent

Possessing unlimited power and able to do anything.

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Undifferentiated biological cells that can differentiate into specialized cells and can divide to produce more stem cells.

Recessive

Describing traits or genes that are expressed in offspring only when inherited from both parents, as opposed to dominant traits that are expressed when inherited from just one parent.