Question if you spend a large portion of your income on a good,
a. demand for that good...
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Business, 23.01.2020 03:31 sonaihriley
Question if you spend a large portion of your income on a good,
a. demand for that good is less elastic than if you spent a smaller portion of your income on the good.
b. supply of that good is price inelastic.
c. demand for that good is more elastic than if you spent a smaller portion of your income on the good.
d. supply of that good would be price elastic.
e. the good must be able to be produced at a constant (or gently rising) opportunity cost.
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Answers: 1
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