Which of the Following Would Tend to DECREASE the Elasticity

question 68

Multiple Choice

Which of the following would tend to DECREASE the elasticity of demand for good X?

• A)The cost of producing X decreases.
• B)Several firms which used to produce substitutes for X go out of business.
• C)Consumers begin spending a smaller percentage of their income on X.
• D)both b and c
• E)all of the above

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Definitions:

Hidden Backlog

Unrecognized or undisclosed work that remains to be done or issues that have not been addressed in a project or system.

Software Package

A collection of software programs and documentation related to a specific application or utility for distribution.

Scope Creep

The process by which a project's requirements increase over its lifecycle, typically leading to delays and cost overruns.

Prewritten Application

Software or program that is developed for sale or distribution to multiple users, designed to perform specific tasks or functions.