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Which of the following would you NOT associate as a characteristic of a good with an elastic demand? (Identify the correct response) A. The product
Which of the following would you NOT associate as a characteristic of a good with an elastic demand? (Identify the correct response)
A. The product lacks unique features that differentiate it from competing products
B. The product is a high percentage of a consumer's total expenditures
C. The good is an input used to make a product that is sensitive to changes in price D. There are many substitutes available for the good E. The product is associated with switching costs
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