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Sublight2097 Sublight2097
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8 years ago
The amount by which people will increase or decrease their purchases when prices change
A) is typically greater in the case of luxuries than in the case of necessities.
B) is typically less for business firms than for households because business firms can more easily borrow to maintain purchasing patterns.
C) is typically less for business firms than for households because business firms must have certain goods to remain in operation.
D) tends to be greater over longer periods of time because it takes time to invent and to discover substitutes.
E) will be approximately zero unless the demand also changes.
Textbook 
The Economic Way of Thinking

The Economic Way of Thinking


Edition: 13th
Authors:
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Chimelo46Chimelo46
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8 years ago
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Sublight2097 Author
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#2
8 years ago
Another one in the books, marking it solved.
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#3
8 years ago
The textbook reference in your signature really helped me narrow it down.

Happy to help Wink Face
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#4
3 years ago
Thank you
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