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Answer to Question #212718 in Microeconomics for Kea

Question #212718

The greater the part of a consumer's bugdet is spent on a specific good, the...... Elastic the demand will be



1
Expert's answer
2021-07-02T11:35:12-0400

The greater the part of a consumer's bugdet is spent on a specific good, the greater elastic the demand will be because the real income effect is greater.

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