Which of the following goods is likely to have a more elastic demand curve?
A)A good without close substitutes
B)A nondurable good
C)A necessary good
D)A good with complements
E)A luxury good

Question

Quizplus · Accepted Answer

Luxury goods are typically more expensive and not considered a necessity, which means that they are often more elastic because consumers can more easily choose to purchase a substitute or not purchase the luxury good at all.

Which of the Following Goods Is Likely to Have a More