Which of These Would Result in a Higher Price Elasticity

question 171

Multiple Choice

Which of these would result in a higher price elasticity of demand?

• A) a shorter period of time for adjustment
• B) a good becoming a necessity
• C) fewer substitutes available
• D) a longer time period for adjustment

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Definitions:

Sympathetic

Characterized by feelings of compassion or understanding towards the situations of others.

Nervous System

The body’s communication network that utilizes neural cells to transmit information, coordinating voluntary and involuntary actions and transmitting signals between different parts of the body.

Parietal Lobe

A region of the cerebral cortex that processes sensory information such as touch, temperature, and pain.

Wernicke's Aphasia

A language disorder that affects the ability to understand spoken language, often resulting from damage to the Wernicke's area of the brain.