Which of the Following Would Tend to Make Demand INELASTIC

question 28

Multiple Choice

Which of the following would tend to make demand INELASTIC?

• A) the amount of time analyzed is quite long
• B) there are lots of substitutes available
• C) the product is highly durable
• D) the proportion of the budget spent on the item is very small
• E) no one really wants the product at all

---

Definitions:

Sample Size

Refers to the number of observations or participants included in a statistical sample.

Type I Error

The incorrect rejection of a true null hypothesis, or a false positive, in statistical hypothesis testing.

Population Means

The average values of a particular characteristic for all individuals or elements within a defined population.

Confidence Interval

A spectrum of values calculated from sample data, anticipated to surround the value of an unexpressed population parameter.