What does the elasticity of demand for luxuries tend to be
A) greater than 1
B) less than 1
C) equal to 1
D) equal to 0
Correct Answer:
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Q1: If a good is a necessity,what would
Q3: When is demand said to be inelastic
A)if
Q4: When quantity demanded responds substantially to changes
Q5: When studying how some event or policy
Q6: When would demand for a good tend
Q7: If a good is a luxury,what would
Q8: When is demand said to be elastic
A)if
Q9: What does inelastic demand mean
A)consumers hardly respond
Q10: What happens when the price elasticity of
Q11: In general terms,what does elasticity measure
A)how price
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