Multiple Choice
The demand for a cup of coffee is ______________ than is the demand for a dinner at a fancy restaurant because _________________.
A) more price elastic; a cup of coffee requires a smaller portion of one's income.
B) less price elastic; a cup of coffee requires a smaller portion of one's income.
C) less price elastic; a cup of coffee is more of a luxury.
D) more price elastic; a cup of coffee is more of a luxury.
Correct Answer:
Verified
Correct Answer:
Verified
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