question archive For a particular good, a 3 percent increase in price causes a 10 percent decrease in quantity demanded
Subject:EconomicsPrice:2.88 Bought3
For a particular good, a 3 percent increase in price causes a 10 percent decrease in quantity demanded. Which of the following statements is most likely applicable 10 this good?
a. The relevant time horizon is short,
b. The good is a necessity,
c. The market for the good is broadly define,
d. There are many dose substitutes for this good.
Purchased 3 times