The demand for pepper is likely to have a low price elasticity because it
(1) Involves only a small proportion of consumers expenditure
(2) It is single-use good
(3) Has no close substitutes
(4) Can readily be foregone
| A. | 1 and 3 only |
| B. | 1 and 2 only |
| C. | 2 and 3 only |
| D. | 2 and 4 only |
Answer : C Explanation : |
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Option: A Explanation : Explanation will come here. Explanation will come here. Explanation will come here. Explanation will come here. Explanation will come here. |
