Other Things Being Equal, the Greater the Price Elasticity of Demand

question 10

Multiple Choice

Other things being equal, the greater the price elasticity of demand for a good, the _____.

• A)shorter the period of time consumers have to adjust to price changes
• B)larger the proportion of income spent on the good
• C)fewer the available substitutes of the good
• D)smaller the proportion of income spent on the good
• E)fewer the available complements of the good

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