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Answer to Question #221720 in Economics for pablo
Question #221720
a possible rrason that the demand for petrol is inelastic is beacsuse
a, a large proportion of the petrol in south africa consumes is imported
b, households spend a small proportion of their income on ortrol
c, there is no close substitute for petrol
d, petrol is a luxury good
a, a large proportion of the petrol in south africa consumes is imported
b, households spend a small proportion of their income on ortrol
c, there is no close substitute for petrol
d, petrol is a luxury good
Expert's answer
c, there is no close substitute for petrol
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