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A good will tend to have a low price elasticity of demand if Group of answer choices it has few substitutes. a person spends a
A good will tend to have a low price elasticity of demand if
Group of answer choices
it has few substitutes.
a person spends a high percentage of his or her budget on it.
a person has a long period of time to adjust to price changes.
the good is a luxury.
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a It has few substitutes If a good has less substitutes or no substitute has a low price ela...
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Macroeconomics Principles Applications And Tools
Authors: Arthur O Sullivan, Steven M. Sheffrin, Stephen J. Perez
7th Edition
978-0134089034, 9780134062754, 134089030, 134062752, 978-0132555234
