Other Things Equal, the Demand for a Good Tends to Be

question 169

Multiple Choice

Other things equal, the demand for a good tends to be more inelastic when

• A) there are fewer available substitutes.
• B) a longer time period is considered.
• C) the good is considered a luxury good.
• D) the market for the good is more narrowly defined.

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Definitions:

Addiction

A chronic disorder characterized by compulsive drug seeking, substance use despite harmful consequences, and long-lasting changes in the brain.

Substance Abuse Disorders

Conditions marked by excessive or harmful use of substances like drugs or alcohol, affecting physical and psychological health.

Disabilities

A term for impairments, activity limitations, and participation restrictions that restrict an individual's ability to perform certain tasks in the way or within the range considered normal for a human.

Spinal Cord Injury

Damage to the spinal cord resulting in a loss of function or mobility below the level of the injury, potentially causing paralysis or sensory loss.