Asked by
abdullah abaoud
on Oct 12, 2024
Verified
Which statement is true?
A) Sales of kosher foods became more elastic from 1996 to 2002 because the products have begun to be purchased for health reasons as well as religious reasons.
B) Higher taxes on cigarettes have virtually no effect in reducing sales.
C) Advertising can shift a demand curve but has no real effect on elasticity.
D) None of these statements are true.
Kosher Foods
Foods that comply with a strict set of dietary rules in Judaism.
Elastic
A term describing a situation where the demand or supply of a good or service changes significantly when its price changes.
Higher Taxes
Increased rates or amounts of taxes imposed by governments on individuals, corporations, or transactions.
- Absorb the essentials of demand elasticity and how it is shaped by numerous factors.
- Understand the elements influencing the elasticity or inelasticity of demand.
- Apprehend how advertising affects the flexibility of market demand.
Verified Answer
PS
Learning Objectives
- Absorb the essentials of demand elasticity and how it is shaped by numerous factors.
- Understand the elements influencing the elasticity or inelasticity of demand.
- Apprehend how advertising affects the flexibility of market demand.