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Home Q & A Board Other Fields Homework Help Business Economics
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Tidy Tidy
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8 years ago
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.
Textbook 
Essentials of Economics

Essentials of Economics


Edition: 4th
Authors:
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Repeat after me: 'Calm down. Things are gonna be fine. Things are gonna be all great. Just relax.' Wink Face
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Chimelo46Chimelo46
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8 years ago
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#2
8 years ago
The textbook reference in your signature really helped me narrow it down.

Happy to help Wink Face
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