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unicorngirl13 unicorngirl13
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5 years ago

Question 1.

The demand for diet soft drinks (as a group) is relatively inelastic because

• there are many of them on the market.

• the purchase of a soft drink represents a large portion of a person's budget.

• there are few substitutes.

• none of the above.

Question 2.

Which of the following is NOT a determinant of the price elasticity of demand?

• expenditures on the good as a share of a consumer's budget

• the price level in a country

• the amount of time allowed for adjustment to changes in the price of the commodity

• existence of substitutes
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
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johnsykejohnsyke
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5 years ago
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unicorngirl13 Author
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#2
5 years ago
Smart ... Thanks!
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