Other Things Equal, the Demand for a Good Tends to Be

question 169

Multiple Choice

Other things equal, the demand for a good tends to be more inelastic when

• A) there are fewer available substitutes.
• B) a longer time period is considered.
• C) the good is considered a luxury good.
• D) the market for the good is more narrowly defined.

---

Definitions:

Ethical Standards

Guidelines established by professional organizations to ensure ethical conduct among its members.

Forensic Evaluations

Assessments conducted by qualified professionals to provide information to legal decision-makers about psychological aspects of legal cases.

Objective Findings

Refers to information or data that is measurable, observable, and not influenced by personal feelings or opinions.

Mental Health Status

An individual's overall psychological well-being and the presence or absence of mental disorders.