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Multiple Choice The elasticity of demand for a product is likely to be greater________. A. if the product is a luxury rather than an absolutenecessity
Multiple Choice
The elasticity of demand for a product is likely to be greater________.
A. if the product is a luxury rather than an absolutenecessity
B. when the proportion of one’s income spent on the product issmaller
C. if the product is an imported good rather than a domesticallyproduced good
D. when the number of substitute products available issmaller
Multiple Choice
The elasticity of demand for a product is likely to be greater________.
A. if the product is a luxury rather than an absolutenecessity
B. when the proportion of one’s income spent on the product issmaller
C. if the product is an imported good rather than a domesticallyproduced good
D. when the number of substitute products available issmaller
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