Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter5: Elastic And Its Application
Section: Chapter Questions
Problem 3QR
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Transcribed Image Text:46. If elasticity of demand is very low,
it shows that the commodity is
A. O A necessity
B. O A luxury
C. O Has little importance in total
budget
D. O a' and 'c' above
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