28) The price elasticity of demand for a good is relatively elastic if: A) there are a large number of substitutes. B) the consumer has more time to make decisions about purchasing the good. C) the good is less of a necessity. D) all of the above

28) The price elasticity of demand for a good is relatively elastic if: A) there are a large number of substitutes. B) the consumer has more time to make decisions about purchasing the good. C) the good is less of a necessity. D) all of the above

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter20: Elasticity: Demand And Supply

Section: Chapter Questions

Problem 5E

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Question

28) The price elasticity of demand for a good is relatively elastic if:
A) there are a large number of substitutes.
B) the consumer has more time to make decisions about purchasing the good.
C) the good is less of a necessity.
D) all of the above

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