Expensive goods have __________ demand, while demand for inexpensive goods is __________.

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Expensive goods have highly elastic demand, while demand for inexpensive goods is inelastic.

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Chapter 4: Elasticity of Demand - OBJECTIVE QUESTIONS [Page 4.34]

Chapter 4 Elasticity of Demand
OBJECTIVE QUESTIONS | Q 3. | Page 4.34

Expensive goods have demand, while demand for inexpensive goods is .