Households typically pay a large share of their income on housing. An economist would expect the demand for housing to be:
A) unit elastic.
B) elastic.
C) inelastic.
D) equal to zero.

Question

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The Answer of Households typically pay a large share of their income on housing. An economist would expect the demand for housing to be:
A) unit elastic.
B) elastic.
C) inelastic.
D) equal to zero.

Households Typically Pay a Large Share of Their Income on Housing