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Consider the following pairs of goods. For which of the good in each pair would you expect the demand to be more price elastic? List

Consider the following pairs of goods. For which of the good in each pair would you expect the demand to be more price elastic? List the underlying determinant of price elasticity of demand causing this? (Write the determinant without explanation). 1. walnut or salt 2. Flat screen monitor or monitors in general 3. Gasoline in short run or diamond earring 4. Blue jeans or Tommy Hilfiger jeans 5. Motor oil or cooking oil

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