Social Studies, 25.02.2020 05:30 LunaGear

The demand for a good becomes more inelastic a. the longer the time horizon. b. as the market is defined more broadly. c. as more close substitutes for it become available. d. as it is increasingly viewed as a luxury good.

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Answer from: anthonypacheco

Option D

Explanation:

The demand of a goods is said to be inelastic when there are no close substitute for it I.e when there is no competition for the goods, this rules out option C.

For the demand of a good to be considered inelastic that means people buy it regardless of the change in price , such good is since as a luxury and can't be replaced pending the time a competitor comes into play.

So there fore option D best explains when the demand of a good is inelastic.

Answer from: livleluve76

c. as more close substitutes for it become available

Explanation:

According to the concept of elasticity of demand,the demand for a good is elastic when the percentage change in quantity demanded is equal to the percentage change in price, and it is Inelastic when a change in price of a good has a relatively small effect on the quantity of the good demanded, Inelastic demand is when the buyer's demand does not change as much as the price changes, this mostly applies to our everyday household products,essential goods are generally inelastic because consumers still demand for it even if the price changes.For example When price increases by 30% and demand decreases by 2%, demand is said to be inelastic,that is to say that the increase in price does not really affectet the demand for the goods.

So therefore, the demand for a good becomes more inelastic as more close substitutes for it become available.

Answer from: Quest

Ifound this information on google “agriculture is important, as are manufacturing, tourism, and a strong geothermal energy resource base. the economy has been expanding since 2010.” i hope this

Answer from: Quest

ne pare rău, dar când mi-am căutat întrebarea, doar avioanele au apărut .. deci, ar putea fi răspunsul, sau ar putea fi baloane cu aer cald, deoarece acestea pot conta și ca ambarcațiunile de aer, dar nu sunt complet sigur de asta. a fost doar o presupunere, sper că am ajutat, îmi pare rău dacă nu am făcut-o. de asemenea, folosesc traducerea google, pentru a traduce ceea ce spun în engleză, așa că îmi pare rău dacă gramatica sau chiar limba nu este corectă

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