The Price Elasticity of Demand Coefficient for a Good Will

question 78

Multiple Choice

The price elasticity of demand coefficient for a good will be lower if which of the following occurs?

• A)There are many substitutes for the good.
• B)The longer a price change persists.
• C)The less of the budget is spent on the good.
• D)The higher the price of complements.

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No Basis In Fact

A statement or belief that lacks any factual support or evidence.

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