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Determinants of Price Elasticity of Demand
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Determinants of Price Elasticity of Demand
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4. Elasticity / Determinants of Price Elasticity of Demand / Problem 6
Problem 6
How might the elasticity of demand for 'organic vegetables' differ from 'vegetables' in general?
A
Demand for vegetables in general is more elastic because it includes more products.
B
Demand for organic vegetables is less elastic because they are a specific product.
C
Elasticity is the same for both markets.
D
Demand for organic vegetables is more elastic due to the availability of non-organic substitutes.
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