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Than demand for i terns such as CD IS. A budget of $20 for movies every month. 64. If the price elasticity of demand is inelastic, which of the following could be a possible value of the elasticity? Decreases by 10%. A. the good is a necessity, rather than a luxury b. the good represents a small fraction of the budget c. a shorter period of time over which demand is measured d. the creation of new substitutes 67. On a linear demand curve, demand is the middle of the demand curve. C. more elastic d. less elastic 66. Which of the following factors would indicate more elastic demand? A. the good is a necessity, rather than a luxury b. the good represents a small fraction of the budget c. a shorter period of time over which demand is measured d. the creation of new substitutes 67. On a linear demand curve, demand is the middle of the demand curve. By what percentage will quantity decrease?
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