Among the following pairs, which is likely to have the greatest price elasticity of demand? Why?
a. Cars or Toyotas
b. Electricity usage during a month or during a year
c. Cable television or a vacation in Hawaii

Question

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The Answer of Among the following pairs, which is likely to have the greatest price elasticity of demand? Why?
a. Cars or Toyotas
b. Electricity usage during a month or during a year
c. Cable television or a vacation in Hawaii

Among the Following Pairs, Which Is Likely to Have the Greatest