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stars_and_moon stars_and_moon
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Posts: 3218
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8 years ago
If the price elasticity of demand for good X is 0.18, then ceteris paribus we would expect
A) the good is a very big part of a person's budget.
B) the time frame under consideration is quite short, such as a few days.
C) the good has a lot of substitutes.
D) all of the above
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kingbykingby
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#1
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8 years ago
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#2
7 years ago
Perfectly answered Smiling Face with Open Mouth

Cheers
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#3
7 years ago
I was slightly debating this one, thanks for the feedback
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