Answer: B
Step-by-step explanation:
B false.
Personal likes and dislikes do not affect the elasticity of a good or service. Elasticity refers to the responsiveness of demand or supply to changes in price or income, and is determined by factors such as the availability of substitutes, the necessity of the good or service, and the proportion of income spent on it.Personal preferences may influence the demand for a good or service, but they do not directly affect its elasticity. For example, if someone really likes a certain brand of coffee, they may be willing to pay a higher price for it, but this does not necessarily make the demand for that brand of coffee more or less elastic.
Therefore, the statement "Personal likes and dislikes affect the elasticity of a good or service" is false.