The Demand for Post Raisin Bran Is More Elastic Than

question 94

Multiple Choice

The demand for Post Raisin Bran is more elastic than the demand for raisin bran in general because _____

• A)it is consumed in the short run rather than in the long run.
• B)Post Raisin Bran is a luxury.
• C)Post Raisin Bran has no substitutes.
• D)there are many substitutes for raisin bran cereal in general.
• E)Post Raisin Bran is a broadly defined good.

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Definitions:

Unpleasantness

The quality of being disagreeable or difficult to endure, often used to describe undesirable experiences or sensations.

Deserved

Warranted or merited due to actions or qualities.

Law Enforcement

A mechanism where society's members behave in a structured way to uphold the law through identifying, preventing, rehabilitating, or penalizing individuals who breach the regulations and norms that oversee that society.

Utilitarian

A philosophical principle that actions are right if they are useful or for the benefit of a majority.