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Which of the following is an example of a good with a highly elastic demand curve? AO Bread BO Pencils CO Sports vehicles DO
3 Wage elasticity of labor supply is a term referring to the A percentage change in wages supplied divided by the percentage
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4. Which of the following is an example of a good with a highly elastic demand curve?

Answer : Option C - Sports vehicles

A good that will absorb a big share of consumers income, for example luxury items and a good that is having many substitutes, both will be having a highly elastic demand. Sports vehicles comes under a luxury item and thus it is having highly elastic demand. When price of sports vehicles falls, it will have a larger impact of quantity purchased. This is because people wishes but were unable to buy it before will find it more affordable when its price decreases.

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