Which of the following makes demand less elastic?
A) the existence of many close substitutes for the good
B) spending a large proportion of income on the good
C) a short time elapsing since the product's price changed
D) All of the above answers are correct.
Correct Answer:
Verified
Q211: Which of the following statements is FALSE?
A)
Q212: If a product has very few substitutes,
Q213: The price elasticity of demand depends on
Q214: For many goods, the price elasticity of
Q215: The _ the portion of your income
Q217: The price elasticity of demand for a
Q218: Because there are numerous choices for fast
Q219: The more substitutes available for a product,
Q220: Which of the following items has the
Q221: Aglets are the metal or plastic tips
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