Other Things Being Equal, Demand Is More Elastic If

question 327

Multiple Choice

Other things being equal, demand is more elastic if

• A) the good is less expensive the good.
• B) the time period for adjustment is shorter.
• C) a family spends a larger percentage of its budget on the good.
• D) the good is more unique.

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Definitions:

CTU Instruction

A command used in PLC (Programmable Logic Controller) programming to count upwards towards a preset value, often used in automation for tracking or controlling processes.

Counter Structure

A programming construct used to store the number of occurrences or iterations, often used in loops or to track events.

Retains Accum

A function or method in PLCs or similar systems that allows the accumulation of data or values to be retained even after power loss or system restart.