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Retnec Retnec
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In general, demand for a product is more elastic
A) the fewer the substitutes and the larger the fraction of the family budget spent on the product.
B) the fewer the substitutes and the smaller the fraction of the family budget spent on the product.
C) the greater the number of substitutes and the smaller the fraction of the family budget spent on that product.
D) the greater the number of substitutes and the larger the fraction of the family budget spent on that product.
E) if consumers believe it is a necessity, rather than a luxury.
Textbook 
Introduction to Economic Reasoning

Introduction to Economic Reasoning


Edition: 8th
Author:
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foliogefolioge
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Retnec Author
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7 years ago
Thanks for your help!!
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Correct Slight Smile TY
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You make an excellent tutor!
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