The Price Elasticity of Demand for a Good Will _____

question 27

Multiple Choice

The price elasticity of demand for a good will _____ as the availability of substitutes _____.

• A)remain unchanged; increases
• B)decrease; increases
• C)increase; increases
• D)decrease; decreases
• E)increase; decrease

---

Definitions:

Code

A systematic collection of laws or regulations, or a set of principles or standards in computing or communication.

Incidental Damages

Compensation for additional financial losses that occur indirectly from a breach of contract or wrongful act.

Cover

In contract law, a purchaser's action to buy goods similar to those the seller failed to deliver, in an effort to mitigate damages from the breach of contract.

Cancel

The act of terminating or voiding a contract, agreement, or obligation, rendering it ineffective or null.