The Demand for a Product Is Likely to Be More

question 99

Multiple Choice

The demand for a product is likely to be more elastic when

• A) the share of the total budget spent on the product is small.
• B) more complementary products are available.
• C) the consumer has a short time to adjust to price changes.
• D) more good substitutes for the product are available.

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Definitions:

Axon Hillock

The cone-shaped area of a neuron where the axon originates and action potentials begin.

EPSPs

Excitatory PostSynaptic Potentials (EPSPs) are changes in membrane potential that increase the likelihood of generating a postsynaptic action potential.

Axon Hillock

The cone-shaped area of a neuron where the cell body transitions to the axon, and from which action potentials are initiated.

Democracy

A form of government in which power is vested in the hands of the people, either directly or through elected representatives.