Question 12 Which of the following characteristics will make the demand curve for a given market more ELASTIC? Group of answer choices The good in the market becomes more of a necessity. Vast improvements in technology allow the goods in the market to be sold at a much lower price that is now only a small portion of the typical consumer's income. Defining the market more broadly. Looking over a longer time period.

Question 12 Which of the following characteristics will make the demand curve for a given market more ELASTIC? Group of answer choices The good in the market becomes more of a necessity. Vast improvements in technology allow the goods in the market to be sold at a much lower price that is now only a small portion of the typical consumer's income. Defining the market more broadly. Looking over a longer time period.

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter4: Supply And Demand: An Initial Look

Section: Chapter Questions

Problem 1DQ

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Question 12

Which of the following characteristics will make the demand curve for a given market more ELASTIC?

Group of answer choices

The good in the market becomes more of a necessity.

Vast improvements in technology allow the goods in the market to be sold at a much lower price that is now only a small portion of the typical consumer's income.

Defining the market more broadly.

Looking over a longer time period.

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