Studies indicate that the demand for fresh tomatoes is much more elastic than the demand for salt. These findings reflect that
A) tomatoes are a necessity while salt is a luxury.
B) it takes longer for consumers to adjust to a change in the price of salt than to a change in the price of tomatoes.
C) salt will not spoil as easily as fresh tomatoes.
D) more good substitutes exist for fresh tomatoes than for salt.
Correct Answer:
Verified
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