If Consumers Spend More Money on Coffee Than on Sugar

question 122

Multiple Choice

If consumers spend more money on coffee than on sugar, then the demand for a pound of coffee is likely _____ price elastic than the demand for a pound sugar of because _____.

• A) less; coffee requires a larger portion of consumers' incomes
• B) more; coffee requires a larger portion of consumers' incomes
• C) less; consumers will take a longer time to adjust to a change in the price
• D) more; consumers will take a longer time to adjust to a change in the price

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Definitions:

Ohms

The standard unit of electrical resistance in the International System of Units (SI), symbolizing the resistance between two points of a conductor.

Amps

A unit of electric current in the International System of Units (SI), short for amperes.

Volts

Volts are the unit of electric potential and electric potential difference in the International System of Units (SI), indicating the force that drives electric current between two points.

Parallel Circuit

In electricity, any circuit that has two or more paths for current flow.