The More Time Consumers Have to Adjust to a Change

question 222

Multiple Choice

The more time consumers have to adjust to a change in price,

• A)the smaller will be the price elasticity of demand.
• B)the greater will be the price elasticity of demand.
• C)the more likely the product is a normal good.
• D)the more likely the product is an inferior good.

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Definitions:

Metamorphosis

Dramatic remodeling of body form during the transition from larva to adult.

Desiccation

The process of extreme dryness or the removal of moisture, which can lead to the drying out of living organisms and ecosystems.

Ectothermy

A physiological feature of organisms that rely on external sources of heat to regulate their body temperature.

Waterproof Skin

A type of skin adaptation that prevents water from penetrating, typically found in various animals, aiding them in living in wet environments.