Which of the Following Could Explain Why the Demand for Table

question 101

Multiple Choice

Which of the following could explain why the demand for table salt is inelastic?

• A)Salt is a luxury good.
• B)Salt is a rare commodity.
• C)Households devote a very small portion of their income to salt purchases.
• D)Salt is a luxury for high-income consumers but a necessity for low-income consumers.

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Definitions:

College-Bound

A term describing students who intend to continue their education at a college or university after high school.

Workforce Preparation

The process of equipping individuals with the skills, knowledge, and competencies required to enter and succeed in the labor market.

Decent Wages

Compensation for work that is fair, sufficient for a decent living, and commensurate with the cost of living.

Stabilization

The process of making something more stable or consistent, often used in the context of economic, environmental, or psychological states.