Why is the demand for a luxury generally more elastic (or less inelastic) than the demand for

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Why is the demand for a luxury generally more elastic (or less inelastic) than the demand for a necessity?

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Microeconomics

ISBN: 978-0133019940

11th edition

Authors: Michael Parkin

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Question Posted: Dec 15, 2015 06:58 AM

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Why is the demand for a luxury generally more elastic (or less inelastic) than the demand for

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Microeconomics

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