Which of the Following Would Be an Example of a Good

question 8

Multiple Choice

Which of the following would be an example of a good with elastic demand?

• A)Bread
• B)Work Shoes
• C)Prescription medicine
• D)Luxury speedboat
• E)Raincoats in winter

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Definitions:

Conversion Formula

A mathematical equation used to change units from one system to another or to transform data into a different format.

Hours

A unit of time equal to 60 minutes or 3,600 seconds.

Minutes

A unit of time equal to one-sixtieth of an hour or 60 seconds, used in the measurement of time.

Conversion Formulas

Mathematical equations used to convert measurements from one unit to another, such as from metric to imperial units or vice versa.