In which of the following situations would demand NOT be elastic?
A) A good is a luxury.
B) People have a lot of time to shop around.
C) The time frame is very short.
D) Consumers have many other options.
Correct Answer:
Verified
Q23: Demand is likely to be inelastic if:
A)
Q24: In which of the following situations would
Q25: If consumers' response to a price change
Q26: A good is considered to have an
Q27: Demand is typically elastic for goods that
Q29: Demand is likely to be inelastic for
Q30: When the price of pickles increases by
Q31: If the price of a good changes
Q32: When the price of plane tickets to
Q33: Households typically pay a large share of
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