Which of the Following Is a Reason Why the Demand

question 77

Multiple Choice

Which of the following is a reason why the demand curve for an item would be more elastic?

• A) The item is a necessity.
• B) People's incomes are very high relative to the cost of the item.
• C) The item has many very good substitutes.
• D) The cost of the item forms a very small part of the consumer's budgets.

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