Which of the Following Statements Is Not True

question 35

Multiple Choice

Which of the following statements is not true?

• A)Price elasticity of demand for basic foods is low.
• B)When price elasticity of demand is very high, we say there is brand loyalty.
• C)The availability and price of substitutes affect the elasticity of demand for a good or service.
• D)When goods have very low prices, the elasticity of demand is usually quite low.
• E)Elasticities increase as the price of the good increases.F. Elasticity of demand cannot be computed.

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