Answer to Question #112228 in Microeconomics for Rayan haidar

Question #112228
Who have higher price elasticity , gasoline or lamburghini cars?
1
Expert's answer
2020-04-27T07:44:31-0400

lamburghini cars have more elasticity than gasoline.

gas is essential for everyday life and commerce, and lamburghini cars are a luxury item.

with an increase in the price of gasoline, demand will hardly change, and with an increase in the price of lamburghini cars, its demand will fall.


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