When a good has fewer substitutes in consumption, is a small part of the consumer's budget, and a long time passes, demand for such a good is inelastic.

Name: When a good has fewer substitutes in consumption, is a small part of the consumer's budget, and a long time passes, demand for such a good is inelastic.
Brand: Quizplus
Rating: 4.8 (34 reviews)

Question

Quizplus · Accepted Answer

The Answer of When a good has fewer substitutes in consumption, is a small part of the consumer's budget, and a long time passes, demand for such a good is inelastic.

When a Good Has Fewer Substitutes in Consumption, Is a Small