What type of goods have a price elasticity of demand that is inelastic?Luxury goods.Necessities.Substitute goods.Complementary goods
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Solution 1
Necessities are the type of goods that have a price elasticity of demand that is inelastic. This is because the demand for these goods does not change significantly with changes in price. People need these goods for their daily life, such as food, water, and housing, so they will buy them regardless Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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