A subway ride is ___________________ than a car because ___________________.
A) less price elastic;it is a smaller portion of one's income
B) more price elastic;it is a smaller portion of one's income
C) less price elastic;people will have a longer time to adjust to the change in its price
D) more price elastic;people will have a longer time to adjust to the change in its price
Correct Answer:
Verified
Q55: The longer people have to adjust to
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Q57: A perfectly elastic demand is one in
Q58: Ben & Jerry's ice cream is _
Q59: A horizontal demand curve implies:
A)a perfectly inelastic
Q61: An increase in price:
A)causes a decrease in
Q62: A good whose demand is unitary elastic
Q63: Assuming elasticity is reported in absolute value,a
Q64: Assuming elasticity is reported in absolute value,a
Q65: Total revenue is:
A)the amount that a firm
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