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What happens if you spend a very small proportion of your income on a product?



A. The demand for that product will tend to be price elastic.
B. The demand for that product will tend to be price inelastic.
C. You will wait for a sale before you buy the item.
D. You will stop buying it if the prices rises even a little.

This question is part of Price Elasticity of Demand
Asked by NorrisJ, Last updated: Jul 07, 2020

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1 Answer

NorrisJ

NorrisJ

Answered Oct 19, 2017

The demand for that product will tend to be price inelastic.
 

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