If there are very few, if any, good substitutes for good A, then ().
A: supply of good A would tend to be price elastic.
B: demand for good A would tend to be price inelastic.
C: demand for good A would tend to be price elastic.
D: demand for good A would tend to be income elastic.
A: supply of good A would tend to be price elastic.
B: demand for good A would tend to be price inelastic.
C: demand for good A would tend to be price elastic.
D: demand for good A would tend to be income elastic.
举一反三
- An increase in demand for a good will lead to a larger increase in price if the supply is relatively elastic.
- Good A and good B are substitutes in production. The demand for good A decreases, which lowers the price of good A. The decrease in the price of good A ( ) A: decreases the supply of good B: increases the supply of good C: decreases the demand for good D: increases the demand for good
- Which of the following would cause price to decrease? A: a decrease in supply B: an increase in demand C: a surplus of the good D: a shortage of the good
- Which of the following would cause price to decrease? A: A、a decrease in supply B: B、an increase in demand C: C、a surplus of the good D: D、a shortage of the good
- If a product is a normal good: A: Demand is inversely related to income B: Demand is inversely related to price C: Demand is directly related to price D: Demand is inversely related to the price of substitutes