The larger the share of a good in a consumer's budget, holding everything else constant, the?...
The larger the share of a good in a consumer's budget, holding everything else constant, the?
a-more unit elastic is a consumer's demand. b-more price elastic is a consumer's demand. c-more vertical is a consumer's demand curve. d-more price inelastic is a consumer's demand.
Homework Answers
Answer : The answer is option b.
By remaining everything as constant in consumer budget the demand for larger share of the good is more price elastic than the other good. Therefore, option b is correct.
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