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Retnec Retnec
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7 years ago
Which of the following is true?
A) The fewer the substitutes that exist for a product, the more elastic the demand.
B) The smaller the fraction of the family budget spent on a product, the more elastic the demand.
C) The demand for Pepsi Cola is likely to be less elastic than the demand for cola drinks as a group.
D) The demand for tennis shoes as a product class is likely to be more elastic than the demand for a particular brand of tennis shoes.
E) The demand for Bic Pens is likely to be more elastic than the demand for ball point pens as a product class.
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
This site is awesome
paulinaibarra98
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Brilliant ツ
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Smart ... Thanks!
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