Which of the Following Is Likely to Increase the Elasticity

question 48

Multiple Choice

Which of the following is likely to increase the elasticity of demand for a good?

• A)A decrease in the availability of close substitutes.
• B)A longer period of time.
• C)A smaller share of income designated for the good in question.
• D)A decrease in the price.

---

Definitions:

Emotional Bond

A deep connection between individuals, characterized by feelings of affection, trust, and loyalty.

Infant

A very young child or baby, typically under one year old.

Attachment

Attachment is an emotional bond between individuals, characterized by a seeking of closeness and perceived security. In psychology, it primarily refers to the bond between infants and their caregivers.

Cultural Differences

Refers to the diverse behaviors, beliefs, values, customs, and norms that distinguish one society or group of people from another.