Question
choose the right option Petrol has an inelastic price elasticity of demand in both the short and long run but chinaware has an elastic price
choose the right option
Petrol has an inelastic price elasticity of demand in both the short and long run but chinaware has an elastic price elasticity of demand in both short and long run because ;
a Petrol is more important than chinaware
b Petrol is a necessity and chinaware is a luxury,
c Petrol cannot be compared to chinaware
d Petrol is luxury and chinaware is necessity
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Macroeconomics Theories and Policies
Authors: Richard T. Froyen
10th edition
013283152X, 978-0132831529
