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.

Answers: 1

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Question if you spend a large portion of your income on a good,

a. demand for that good...

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