Price elasticity magnitudes are lower for durable goods than for other goods.

Name: Price elasticity magnitudes are lower for durable goods than for other goods.
Brand: Quizplus
Rating: 4.9 (29 reviews)

Question

Quizplus · Accepted Answer

Durable goods often have higher price elasticity magnitudes because consumers can delay purchases more easily, waiting for prices to drop or for their financial situation to improve, unlike non-durable goods which are typically necessary and purchased regularly.

Price Elasticity Magnitudes Are Lower for Durable Goods Than for Other