The Demand for a Good Is Elastic

question 62

Multiple Choice

The demand for a good is elastic. Which of the following would be the most likely explanation for this?

• A) The good is a necessity.
• B) The good is broadly defined.
• C) The good costs a large portion of one's total income.
• D) The time interval considered is short.

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Definitions:

Pain

An uncomfortable sensation that can range from mild, localized discomfort to unbearable agony, either physical or emotional.

Fetishism

A form of sexual desire in which gratification is linked to an abnormal degree to a particular object, item of clothing, or body part.

Arousal

A physiological and psychological state of being awake or reactive to stimuli.

Coercive Paraphilias

Paraphilic disorders characterized by intense sexual fantasies, urges, or behaviors that involve the psychological or physical suffering of another person.