Please give me correct and incorrect explanation Note:-Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure. Which of the following is likely to make demand MORE elastic?O a. A longer time horizonO b. A broader definition of the good (i.e. cereal instead of raisin bran)O c. Few available substitutesOd. A necessity item

The Elasticity of demand measures the degree of responsiveness of demand to change in its…

Which of the following is likely to make demand MORE elastic? O a. A longer time horizon O b. A broader definition of the good (i.e. cereal instead of raisin bran) O c. Few available substitutes O d. A necessity item

Which of the following is likely to make demand MORE elastic? O a. A longer time horizon O b. A broader definition of the good (i.e. cereal instead of raisin bran) O c. Few available substitutes O d. A necessity item

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elastic And Its Application

Section: Chapter Questions

Problem 3QR

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Please give me correct and incorrect explanation

Note:-

Do not provide handwritten solution. Maintain accuracy and quality in your answer.

Take care of plagiarism.

Answer completely.

You will get up vote for sure.

Which of the following is likely to make demand MORE elastic?
O a. A longer time horizon
O b. A broader definition of the good (i.e. cereal instead of raisin bran)
O c. Few available substitutes
Od. A necessity item

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