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VCE Economics Unit 3 AOS 1 Flashcards | StudBud
VCE Economics Unit 3 AOS 1
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The price elasticity of demand for a product will be greater
A
the more responsive the industry supply curve is for the product.
B
the lower the proportion of their income consumers spend on the product.
C
the more necessary consumers regard the product to be.
D
the larger the number of substitutes for the product.
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