Which of These Statements About Price Elasticity of Demand Is

question 81

Multiple Choice

Which of these statements about price elasticity of demand is most accurate?

• A) The more substitutes a product has, the more likely it is to be price elastic.
• B) All products show some price inelasticity.
• C) Nondiscretionary (necessary) purchases are price elastic.
• D) With inelastic demand, reducing price has a very large impact on revenues.
• E) With inelastic demand, manufacturers change prices frequently to capitalize on consumer behavior.

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