Which of the Following Causes Demand to Be More Elastic

question 73

Multiple Choice

Which of the following causes demand to be more elastic with respect to price?

• A) Shorter periods of time to adjust to a change in price.
• B) A higher ratio of price to consumers' income.
• C) Fewer substitutes.
• D) A steeper demand curve for a given price and quantity.

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Definitions:

Politically Conservative

Holding beliefs that emphasize tradition, authority, and resistance to change in political and social systems.

Self-reliant

Capable of relying on one's own capabilities, judgment, or resources; independent in thought and action.

Energetic

Displaying or characterized by a high level of activity, enthusiasm, or vitality.

Guilty

A state of having committed a specific or implied offense or crime, leading to feelings of responsibility and remorse.