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The absolute value of the price elasticity of demand for a good increases when the good has fewer substitutes Answer A: the good has fewer substitutes A the good becomes a necessity Answer B: the good becomes a necessity B consumers spend greater portion of their budget on the good Answer C: consumers spend greater portion of their budget on the good C the price of an input used to produce the good increases Answer D: the price of an input used to produce the good increases D the good must be purchased immediately

Q&A Education