Assume that a family spends 35 percent of its income on housing,20 percent on travel-related expenses,10 percent on utilities,25 percent on health care,and 5 percent on miscellaneous items.Demand for which category will be most responsive to a change in price?

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The Answer of Assume that a family spends 35 percent of its income on housing,20 percent on travel-related expenses,10 percent on utilities,25 percent on health care,and 5 percent on miscellaneous items.Demand for which category will be most responsive to a change in price?

Assume That a Family Spends 35 Percent of Its Income