Question

6) Price elasticity is higher
a. For broadly defined goods
b. In the short run
c. For Necessities
d. When substitutes are available​

Answer 1

Answer:

demand elasticity

Explanation:

If the quantity demanded of a product exhibits a large change in response to changes in its price, it is termed "elastic," that is, quantity stretched far from its prior point. ... The more discretionary a purchase is, the more its quantity will fall in response to price rises, that is, the higher the elasticity