For a particular good, a 2 percent increase in price causes a 12 percent decrease in quantity demanded. Which of the following statements is most likely applicable to this good?
A、There are no close substitutes for this good.
B、The good is a luxury.
C、The market for the good is broadly defined.
D、The relevant time horizon is short.
A、There are no close substitutes for this good.
B、The good is a luxury.
C、The market for the good is broadly defined.
D、The relevant time horizon is short.
微观经济学（全英）
章节列表
1. General Overview of Economics282. Principles of Economics353. Circular-Flow Diagram and PPF204. Interdependence and Trade205. Demand and Supply756. Elasticity717. Price Control and Taxation408. CS, PS and the Efficiency of Markets109. Costs of Taxation2510. International Trade3011. Externalities3112. Public Goods and Common Resources2013. The Costs of Production20