An Elastic Response in the Quantity of a Good Demanded

question 209

Multiple Choice

An elastic response in the quantity of a good demanded would be caused by

• A) the availability of many substitutes.
• B) a lack of substitutes.
• C) a lack of sensitivity to the good's price.
• D) the good representing a small portion of a person's budget.

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Definitions:

Secondary Consumer

An organism that feeds on primary consumers; typically a carnivore or omnivore that occupies the third trophic level in a food chain.

Decomposer

Organisms, such as bacteria and fungi, that break down dead organisms and waste materials, recycling nutrients in ecosystems.

Fungi

A kingdom of complex organisms that obtain nutrients by breaking down organic material, including molds, yeast, and mushrooms.

Secondary Consumer

An organism that primarily eats primary consumers, which are herbivores that eat producers like plants and algae, situating it in the middle level of the food chain.