menu
Sign up

With the Increased Usage of Cell Phone Services,what Has Happened

Question 88
Multiple Choice

With the increased usage of cell phone services,what has happened to the price elasticity of demand for land-line telephone services? A) It has become more price inelastic. B) It has become more price elastic. C) It has become more income elastic. D) The absolute value of the price elasticity coefficient has probably gone down.

Related questions
Q 89
Which of the following would result in a higher absolute value of the price elasticity of demand for a product? A) A wide variety of substitutes are available for the good. B) The time period under consideration is short. C) The good is a necessity. D) The expenditure on the good is small relative to one's budget.
Q 90
If the market for a product is broadly defined,then A) the good has many complements. B) there are few substitutes for the product and the demand for the product is relatively inelastic. C) there are many substitutes for the product and the demand for the product is relatively elastic. D) the expenditure on the good is likely to make up a large share of one's budget.
Q 91
Rank these three items in terms of the elasticity of the demand for them at any given price,from most elastic to least elastic: hot beverages,coffee and Peet's Coffee. A) hot beverages, coffee, Peet's Coffee B) Peet's Coffee, coffee, hot beverages C) coffee, Peet's Coffee, hot beverages D) coffee, hot beverages, Peet's Coffee
logo
© 2020-2021 Cozyplus FZ LLC. All rights reserved