Which of the Following Statements About the Price Elasticity of Demand

question 110

Multiple Choice

Which of the following statements about the price elasticity of demand is correct?

• A)The price elasticity of demand for a good measures the willingness of buyers of the good to buy less of the good as its price increases.
• B)Price elasticity of demand reflects the many economic,psychological,and social forces that shape consumer tastes.
• C)Other things equal,if good x has close substitutes and good y does not have close substitutes,then the demand for good x will be more elastic than the demand for good y.
• D)All of the above are correct.

---

Definitions:

Blind Participants

Individuals who are visually impaired taking part in activities or research studies.

Mental Imagery

The cognitive process of simulating sensory experiences in the mind without direct external input, often involving visualization.

Spatial Information

Refers to data about the physical location and shape of objects and their relative positions in space.

Clockwise Mental Rotation

The process of mentally rotating an object in a clockwise direction to understand its structure or visualize its orientation.