All else equal, the price elasticity of demand for a good tends to be lower: A. if the good represents a large share of a consumer's budget. B. if the good has many close substitutes. C. if the good has few close substitutes. D. in the long run.
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Home » Business » All else equal, the price elasticity of demand for a good tends to be lower: A. if the good represents a large share of a consumer's budget. B. if the good has many close substitutes. C. if the good has few close substitutes. D. in the long run.