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Introduction to Economics 1
Introduction to Economics 1 Deneme Sınavı
Introduction to Economics 1 Deneme Sınavı Sorusu #1278304
Introduction to Economics 1 Deneme Sınavı Sorusu #1278304
In which of the following cases do you expect to have more elastic demand?
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Goods with close substitutes |
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When the good is a necessity |
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When a good represents a relatively small portion of total budget |
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Goods without close substitutes |
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Hamburger market in particular |
Yanıt Açıklaması:
Goods with close substitutes tend to have more elastic demand than goods without close substitutes since it is easier for consumers to give up that good and switch to its substitutes.
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