If a good is a necessity with few substitutes, all others things equal, then demand will tend to: have price elasticity equal to 1. be more price-elastic. be the same as that of a luxury good. be less price-elastic.
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Home » Business » If a good is a necessity with few substitutes, all others things equal, then demand will tend to: have price elasticity equal to 1. be more price-elastic. be the same as that of a luxury good. be less price-elastic.