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Which of the Following Is the Most Likely Explanation for the Fact

Question 29

Multiple Choice

Which of the following is the most likely explanation for the fact that the price elasticity of demand for celery is high?


A) The average household spends a large percentage of its income on celery.
B) There are a large number of substitute products available.
C) The time needed to produce this product is short.
D) The typical price of this product is low.

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