Which of the Following Statements Is False

question 200

Multiple Choice

Which of the following statements is false?

• A)Income elasticity of demand measures the responsiveness of quantity demanded to changes in income.
• B)Price elasticity of demand measures the responsiveness of quantity demanded to changes in price.
• C)Price elasticity of demand and the slope of a demand curve are the same thing.
• D)The more substitutes for a good, the higher the price elasticity of demand, ceteris paribus.

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Original Cost

The initial purchase price or production cost of an asset or investment, not including subsequent expenses or depreciation.

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High-fashion garments created by professional fashion designers, often noted for their uniqueness, quality, and price.

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Preliminary drawings or outlines made quickly to capture the basic elements and structure of a subject before detailed work begins.

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