Suppose that the demand for electricity has been found to be price inelastic. The most likely explanation for this finding is that:
Suppose that the demand for electricity has been found to be price inelastic. The most likely explanation for this finding is that:
A.electricity is sold in a monopoly market.
B.few substitutes for electricity exist.
C.the fraction of income spent on electricity is large.
D.electricity is a luxury good.
正确答案：few substitutes for electricity exist.
Tag：微观经济学 中国大学MOOC微观经济学
时间：2021-12-11 14:36:37
- 上一篇：Satellite TV is a close substitute for cable TV. In the 1990’s, small satellite TV units were developed that made it less costly for individual consumers to subscribe to satellite TV service. This caused the price elasticity of demand for cable TV service
- 下一篇：Suppose that there is only one small clothing store in the remote village of Green Acres, and until recently the townspeople bought their shirts there. As more people in Green Acres become connected to the Internet, the price elasticity of demand for shir