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Lauren1 Lauren1
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Posts: 4120
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9 years ago
The demand for a good is less price elastic
A) if closer substitutes are available.
B) if the good is a luxury rather than a necessity.
C) if the share of the good in the average consumer's budget is smaller.
D) in the long run than in the short run.
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MrDerecheMrDereche
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#1
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Posts: 4095
Rep: 304 0
9 years ago
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Lauren1 Author
wrote...
#2
9 years ago
Thank you, this really, really helps Heavy Heart
wrote...
#3
9 years ago
You're welcome!
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