The Demand for a Product Tends to Be Inelastic If

question 15

Multiple Choice

The demand for a product tends to be inelastic if:

• A) it is expensive.
• B) a small proportion of consumer's income is spent on the good.
• C) consumers are quick to respond to price changes.
• D) it has many substitutes.

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Definitions:

Tyson Foods Inc.

An American multinational corporation that operates in the food industry, primarily focused on processing and marketing chicken, beef, and pork.

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A false statement presented as a fact that causes injury or damage to the subject's reputation.

Motion

A request made to a court for a desired order or directive to be issued.