The Closer the Substitutes for a Good, the

question 85

Multiple Choice

The closer the substitutes for a good, the

• A) more elastic is the demand for the good.
• B) less elastic is the demand for the good.
• C) smaller the degree of substitutability between the goods.
• D) larger the proportion of income that is spent on the good.

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Definitions:

Mental Test

A psychological test that measures mental functions, abilities, and capacities.

SAT

A uniform exam extensively employed for university entry across the United States, evaluating abilities in reading, writing, and mathematics.

Psychological Laboratories

Specialized settings equipped for conducting research and experimental studies in psychology and cognitive sciences.

Language Ability

Refers to the capacity to understand, produce, and use language effectively for communication.