Question: Your demand will be more inelastic when Select one: a . you spend a large fraction of your income on the product or service. b

Your demand will be more inelastic when
Select one:
a. you spend a large fraction of your income on the product or service.
b. the product or service is expensive.
C. the product or service is not necessary to your survival.
d. you don't have much time to adjust your spending patterns.
e. you can easily find close substitutes.
 Your demand will be more inelastic when Select one: a. you

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!