Generally Speaking,demand for a Good Will Be More Inelastic

question 44

Multiple Choice

Generally speaking,demand for a good will be more inelastic:

• A)if few substitutes exist.
• B)when the good represents a large share of the consumer's budget.
• C)in the long run.
• D)when many substitutes exist.

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A linguistic device where a word or phrase is attributed to an object or activity to which it does not literally pertain, implying a resemblance.

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