The Most Important Determinant of Price Elasticity of Demand Is

question 75

Multiple Choice

The most important determinant of price elasticity of demand is:

• A)the availability of substitutes.
• B)the higher the price of the good.
• C)the more of the budget is spent on the good.
• D)the longer the time the consumer has to adjust to price changes.

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Definitions:

Gut-dwelling

Referring to organisms that live within the digestive tract of a host, contributing to or affecting the host's health and nutritional status.

Ciliates

Single-celled or colonial protists with cilia.

Cellulose

A complex carbohydrate comprised of glucose units, forming the primary structural component of plant cell walls.

Brown Algae

Brown algae are a group of multicellular marine plants known for their distinctive brown or olive color, which results from the presence of the pigment fucoxanthin.