The Demand for Good X Will Be More Elastic Than

question 11

Multiple Choice

The demand for good X will be more elastic than the demand for good Y when

• A)good X has fewer substitutes than good Y.
• B)good X accounts for a larger percentage of a typical consumer's budget than good Y.
• C)consumers have more time to adjust to a change in the price of good X than they have time to adjust to a change in the price of good Y.
• D)both b and c
• E)all of the above

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Definitions:

Manifestation

The act of becoming visible, apparent, or known, especially concerning thoughts, feelings, or theoretical concepts becoming observable or tangible.

Different Ways

Various methods, approaches, or techniques used to achieve a goal or solve a problem.

Deception By Commission

The act of intentionally providing false information or misleading others through affirmative statements or actions.

Deliberate Presentation

The conscious effort to manage and control the impression one makes on others through their appearance, speech, and behavior.