In general, a "big ticket item" such as a house or new car will
a. tend to have an inelastic demand because it has many substitutes.
b. tend to have a more elastic demand than a lower-priced good.
c. tend to have a more inelastic demand the more time that passes.
d. tend to have an inelastic demand because spending on the item takes up a large share of the average consumer's budget.
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