lectur14-page67

lectur14-page67 - be. The price of an automobile is such a...

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67 Proportion of the Consumers Budget a Good or Service Represents The more of a consumers budget a commodity represents, the more elastic the demand curve will tend to
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Unformatted text preview: be. The price of an automobile is such a large percentage of our budgets, that consumption of automobiles will be affected very much by a price increase....
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