A Good Will Tend to Be More Price Elastic If

question 116

Multiple Choice

A good will tend to be more price elastic if it

• A)is a luxury good.
• B)has no close substitutes.
• C)is a small part of the household budget.
• D)is a necessity.

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Definitions:

Vegan Diet

A dietary practice that excludes all animal products, including meat, dairy, and eggs, often for health, ethical, or environmental reasons.

Soybean Milk

A plant-based milk produced by soaking and grinding soybeans, then boiling the mixture and filtering out remaining particulates, often used as a dairy alternative.

Protein Deficient

A nutritional condition characterized by insufficient protein intake leading to health issues such as muscle wasting and weakened immunity.

Malnutrition

A condition resulting from a diet lacking in essential nutrients, leading to various health issues.