Answer to Question #80464 in Economics for Lesego

Question #80464
If the price elasticity of beef is greater than the price elasticity of coffee, it means that households are
1. more responsive or sensitive to a change in the price of beef than to a change in the price of coffee
2. more responsive or sensitive to a change in the price of coffee than to a change in the price of beef
3. more responsive or sensitive to a change in the demand for coffee than to a change in the demand for beef
4. more responsive or sensitive to a change in the demand for beef than to a change in the demand for coffee
1
Expert's answer
2018-09-05T11:11:08-0400
1. more responsive or sensitive to a change in the price of beef than to a change in the price of coffee

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Assignment Expert
09.09.19, 17:48

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Godknows
09.09.19, 10:55

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