Question 3 The demand for a good is more price elastic if the good is a necessity rather than a luxury. if the share of the good in the average consumer's budget is smaller. in the short run than in the long run. if closer substitutes are available. solutionspile.com

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Question 3 The demand for a good is more price elastic if the good is a necessity rather than a luxury. if the share of the good in the average consumer's budget is smaller. in the short run than in the long run. if closer substitutes are available.  solutionspile.com

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