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

question 5

Multiple Choice

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

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

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Definitions:

Homeowners

Individuals or entities who own and usually reside in a dwelling such as a house or apartment.

Normal Distribution

A probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean.

Standard Deviation

A quantification of the scope of dispersion or difference among a set of numerical values.

Tips

Voluntary payments given for services rendered, often in the hospitality industry, or advice and suggestions offered to help or inform.