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:

Ingratiation

A psychological technique in which an individual attempts to become more appealing to others through flattery or other forms of manipulation.

Perceptual Distortion

The misinterpretation or misrepresentation of a perceived stimulus, affecting judgment or decision-making.

Ingratiation

A psychological tactic involving deliberate efforts to win someone's favor by flattery or other means of making oneself personally likable.

Perceptual Distortion

Perceptual distortion refers to inaccuracies or misinterpretations of sensory input, caused by biases, preconceptions, or psychological influences, affecting how information is perceived and processed.