Which Will Cause a Demand Curve to Be Relatively Elastic

question 89

Multiple Choice

Which will cause a demand curve to be relatively elastic?

• A) Few substitutes exist.
• B) The time interval considered is long.
• C) The good is considered a necessity.
• D) Purchases of the good require a small portion of consumers' budgets.

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Definitions:

French Fries

Deep-fried strips of potatoes, often seasoned with salt, commonly served as a fast-food side dish or snack.

Difference Threshold

The minimum difference in stimulation that a person can detect 50% of the time.

Stimuli

External factors or conditions that elicit responses from an organism or a part of the body.

Sensory Adaptation

How sensory receptors grow increasingly insensitive to stimuli that do not change, happening gradually.