Which of the following is not characteristic of a product with relatively inelastic demand? Multiple Choice...
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Which of the following is not characteristic of a product with relatively inelastic demand? Multiple Choice The good is regarded by consumers as a necessity. There are a large number of good substitutes for the good. O Buyers spend a small percentage of their total income on the product. Consumers have had only a short time period to adjust to changes in price. Which of the following is not characteristic of a product with relatively inelastic demand? Multiple Choice The good is regarded by consumers as a necessity. There are a large number of good substitutes for the good. O Buyers spend a small percentage of their total income on the product. Consumers have had only a short time period to adjust to changes in price.
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