A good that has a high price elasticity of demand is most likely to:
A)have a large number of substitutes.
B)be purchased by low-income consumers.
C)be sold at a high price level.
D)be produced by a single firm.
E)be a necessary good.

Name: A good that has a high price elasticity of demand is most likely to: A)have a large number of substitutes. B)be purchased by low-income consumers. C)be sold at a high price level. D)be produced by a single firm. E)be a necessary good.
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Question

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The Answer is A

A Good That Has a High Price Elasticity of Demand