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Vernon Spends the Following Percentages of His Budget on the Goods

Question 163

Multiple Choice

Vernon spends the following percentages of his budget on the goods A, B, C, and D: 23 percent on good A, 11 percent on good B, 1 percent on good C, and 3 percent on good D. For which good is price elasticity of demand the highest, ceteris paribus?


A) good A
B) good B
C) good C
D) good D

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