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The price elasticity of demand for a product is greater if A. the proportion of the good of the consumer's budget is high. B. the period of time to respond to a price chang…

The price elasticity of demand for a product is greater if A. the proportion of the good of the consumer's budget is high. B. the period of time to respond to a price chang…
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10 votes
The price elasticity of demand for a product is greater if

A. the proportion of the good of the consumer's budget is high.
B. the period of time to respond to a price change is short.
C. the number of substitute products is limited.
D. the product is a necessity.
E. imports decrease.

User Soufiene
by
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2 Answers

8 votes
It’s C the number of substitute products is limited
User Syed Mohamed Aladeen
by
7.9k points
4 votes

the number of substitute products is limited

User Nate Weiner
by
8.4k points
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