Question: Compare the demand for water with the demand for wine. The demand for wine is likely OA. relatively more elastic because wine is a

Compare the demand for water with the demand for wine. The demand for wine is likely OA. relatively more elastic because wine is a necessity. OB. relatively more inelastic because wine is a necessity. OC. equally elastic as the demand for water. OD. relatively more elastic because wine is a luxury. OE. relatively more inelastic because wine is a luxury.

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ANSWER C Equally elastic as the demand for water Price elasticity of water demand provides informati... View full answer

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