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.

---

Definitions:

Unreasonable Risk

A situation or condition that poses a higher than acceptable likelihood of harm or negative outcome.

Criminal Background

A record of an individual’s history of criminal convictions and offenses.

Principal

The primary party involved in a transaction, agreement, or legal obligation, often responsible for fulfilling the terms of a contract.

Tort

A civil wrong or breach of duty to another person, as defined by law, that results in harm or injury, leading to legal liability.