bebeveillad4574 bebeveillad4574

05-02-2024
Business

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Consider that the price elasticity of supply for a good is 1.2 and the absolute value of the price elasticity of demand is 1.7. Which of the following is true in this case?

a) The good is a luxury
b) The good is a necessity
c) The market is inelastic
d) The market is elastic

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