Generally, Expenses on Toothpaste Are a Small Part of a Consumer's

question 329

Multiple Choice

Generally, expenses on toothpaste are a small part of a consumer's budget, so the demand for toothpaste is more likely to be

• A) elastic.
• B) inelastic.
• C) unit elastic.
• D) perfectly elastic.

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Definitions:

Transfer Payment

Payments made by the government to individuals or other organizations without expecting a good or service in return.

African-American Persons

Individuals of African descent living in the United States, often with a history linked to enslavement and civil rights struggles.

Hispanic Persons

Individuals who identify with, or originate from, Spanish-speaking countries, particularly those in Latin America.

Population in Poverty

the segment of a population living below the nationally or internationally recognized poverty line, indicating their inability to meet basic life needs.