98) Which of the following would cause a demand curve for a good to be price inelastic?

The good is a luxury.

There are a great number of substitutes for the good.

The good is a necessity

None of these answers

Answer is:

The good is a necessity

transportation

taxi rides

bus tickets

airline tickets

Answer is:

the quantity supplied is sensitive to changes in the price of that good

the quantity demanded is insensitive to changes in the price of that good

the quantity demanded is sensitive to changes in the price of that good

the quantity supplied is insensitive to changes in the price of that good

Answer is:

zero

infinite

one

unable to be determined from this information

Answer is:

demand is price inelastic

supply is price elastic

supply is price inelastic

demand is price elastic

Answer is: