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You Would Expect a Good

Question 157

Multiple Choice

You would expect a good:


A) that is a luxury to have a higher price elasticity of demand than a good that is a necessity.
B) with many substitutes to have a higher price elasticity of demand than a good with few substitutes.
C) that takes a large percentage of one's income to have a higher price elasticity of demand than a good that takes a small percentage of one's income.
D) all of the above.

Correct Answer:

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