The Price Elasticity of Demand for Eggs

question 277

Multiple Choice

The price elasticity of demand for eggs

• A) is computed as the percentage change in quantity demanded of eggs divided by the percentage change in price of eggs.
• B) will be lower if there is a new invention that is a close substitute for eggs.
• C) will be higher if consumers consider eggs to be a luxury good.
• D) All of the above are correct.

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Definitions:

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