There Are Several Reasons Why Demand Curves May Become More

question 27

Multiple Choice

There are several reasons why demand curves may become more price elastic. Among them are

• A) the market becomes more monopolistic and cross elasticities approach zero.
• B) the goods become less differentiated and more firms enter the industry.
• C) consumers have fewer substitutes and firms drop out of the industry.
• D) industry demand increases and consumers increase spending.

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