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Promoted

? asked in Social Science Economics · 6 years ago

Price elasticity of demand for refrigerators is greater in absolute value (more elastic) than price elasticity of demand for pencils. Why?

1 Answer

Relevance

Anonymous
6 years ago
Favorite Answer
people will give more attention to price change for example from $1200 to $1000,compared to $1 to 90 cents. The first one is your fridge,the second one is your pencil.

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