Regarding the price elasticities of demand, which of the following statements is true?
A. Price elasticities vary considerably from product to product.
B. Luxurious goods are generally less price elastic.
C. Necessities are generally more price elastic.
D. All of these statements are true.
Answer: A
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Equilibrium Interest Rate
A rightward shift of a market supply curve might be caused by:
a. the entry of new firms in the industry. b. an increase in the wages of labor employed in the industry. c. an increase in the price of the final product. d. a decrease in the income of consumers. e. an increase in the supply of a substitute good.
What is the relationship between rent-seeking expenditures and monopoly?
What will be an ideal response?
A tax is sometimes used by government to correct the problems associated with
A) negative externalities. B) positive externalities. C) internal benefits. D) external benefits.