Which of the Following Factors Causes a Demand Curve Tobecome

question 59

Multiple Choice

Which of the following factors causes a demand curve tobecome more elastic over time?

• A)New substitutes for the product are discovered.(True Answer )Correct
• B)New and important uses for the product are discovered.
• C)More producers begin to produce the product.
• D)More consumers acquire a desire for the product.

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Definitions:

Sculpting Supplies

Various tools, materials, and accessories used by artists to shape and create sculptures.

Enrollment Costs

Expenses associated with signing up for or enrolling in a service, course, or institution.

Break-Even

The juncture where the sum of all revenues is equivalent to the sum of all costs, leading to neither a profit nor a loss.

Fixed Costs

Costs that do not change with the level of output or sales within a certain period of time.