The Price Elasticity of Demand Will Be Larger in Absolute

question 40

Multiple Choice

The price elasticity of demand will be larger in absolute value if

• A)expenditure on the good represents a smaller proportion of the consumer's total expenditure
• B)we define the good more broadly
• C)we define the good more narrowly
• D)the number of substitutes is smaller
• E)the number of consumers is larger

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