Which of the Following Statements Is Correct

question 130

Multiple Choice

Which of the following statements is correct?

• A) The demand for New Balance shoes is more elastic than the demand for shoes in general.
• B) The demand for salt is very elastic.
• C) The demand for luxuries is less elastic than the demand for necessities.
• D) The demand for a narrowly defined good is less elastic than the demand for a more broadly defined good.
• E) The larger the proportion of income spent on a good, the smaller the elasticity of demand.

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Definitions:

Delete Button

A user interface element that, when clicked or activated, allows users to remove an item or data entry from a list, database, or other collections.

Action

In software contexts, an operation or a series of operations performed upon data or triggered by user interaction within an application.

Group Component

A term used in software engineering to refer to a collection of elements that function as a single unit within a larger system.

Macro

A set of instructions or a script that automates repetitive tasks, often used in software applications to enhance efficiency.