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Anna35 [415]
2 years ago
14

You came across a newspaper article and various news reports showing

Social Studies
1 answer:
bagirrra123 [75]2 years ago
8 0

Answer:

yes that is correct

Explanation:

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D. the greater the availability of close substitutes.

Explanation:

Price elasticity of demand is a measure of the sensitivity of demand for a good or service to changes in the price of that product. We say that the price elasticity of demand is elastic when a percentage change in the price of this good has major impacts on demand. On the contrary, we say that the price elasticity of demand is inelastic when variations in the price of goods have little or no influence on demand.

Goods that are inelastic in demand are usually consumer-essential goods for which there are few substitution options, such as a cancer drug. On the contrary, elastic goods are those whose price variations diminish the demand for a range of substitute goods. For example, if the price of rice goes up, people may demand spaghetti, which is a substitute good.Therefore, goods with a large number of substitutes tend to have price elastic demand.

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For the farmer that want to export green (white) table grapes to Australia from his farm, the best transportation method to be adopted would be by air using the airplane. <em>Because, of the perishable nature of the grapes and in-order to maintain its freshness, this method is the best option.</em>

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