The price elasticity of demand for a product is largest when the a. product constitutes a

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The price elasticity of demand for a product is largest when the

■

a. product constitutes a large portion of the consumer’s budget.

■

b. product constitutes a small portion of the consumer’s budget.

■

c. time period under consideration is very short.

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Fundamentals Of Economics

ISBN: 9780618992676

4th Edition

Authors: William Boyes , Michael Melvin

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Question Posted: Jul 08, 2024 09:00 AM

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The price elasticity of demand for a product is largest when the a. product constitutes a

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Fundamentals Of Economics

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