The smaller the price elasticity of demand thea more likely, Ask an Expert

Economics

The smaller the price elasticity of demand, the

A. more likely the product is a luxury.

B. smaller the responsiveness of quantity demanded to a change in price.

C. more substitutes the product has.

D. greater the responsiveness of quantity demanded to a change in price.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91676244

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