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The elasticity of demand of durable goods is

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Economics
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The elasticity of demand of durable goods is

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Correct Answer: Option B
The elasticity of demand of durable goods is greater than unity. Price elasticity of demand for durable goods is generally more elastic in short run than in long run. That is, quantity demanded is more sensitive to price changes of such durable goods in short run and not so much in the long run.
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Abdurahman Malik
Abdurahman Malik 5 years ago
sir durable goods are less elastic due to their durability ad consumers are wiling to buy them even after increase in prices
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