Elasticity of demand will ____ as the availability of substitutes ____

a. increase; decreases
b. decrease; increases
c. increase; increases
d. remain unchanged; decreases


c

Economics

You might also like to view...

A balance of payments deficit is associated with a ________ of international reserves, while a balance of payments surplus is associated with a ________

A) loss; loss B) loss; gain C) gain; loss D) gain; gain

Economics

According to conservatives the Bureau of Labor Statistics

A. overstates the number of unemployed and overstates the unemployment rate. B. overstates the number of unemployed and understates the unemployment rate. C. understates the number of unemployed and understates the unemployment rate. D. understates the number of unemployed and overstates the unemployment rate.

Economics

Explain the income and substitution effects.

What will be an ideal response?

Economics

As a percentage of GDP, imports are greater than exports for which of the following countries?

A) Germany B) Italy C) the Netherlands D) the United States

Economics