ECONOMICS
ELASTICITY OF DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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During a certain period, 10 000 units of a normal good are sold at a price of 20 c. During a laterperiod, 12 000 units are sold at a price of 22 c.What could explain this change?
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a reduction in consumers’ incomes
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an increase in the cost of raw materials
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an increase in the price of a substitute commodity
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an increase in the productivity of factors of production
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Explanation:
There is 1 question to complete.