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

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Definitions:

Biogeography

Study of patterns in the geographic distribution of species and communities.

Distribution

The process by which goods get distributed or spread out across different locations, or the statistical spread of values in a dataset.

Radiometric Dating

Method of estimating the age of a rock or fossil by measuring the content and proportions of a radioisotope and its daughter elements.

Volcanic Rocks

Igneous rocks that are formed from the solidification of lava or magma ejected from volcanoes.