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Which of the following is likely to have the most price elastic demand?
Mortgage Default Rate
The percentage of borrowers who fail to make their mortgage payments on time, risking foreclosure.
Housing Prices
The cost associated with buying or renting properties, including houses and apartments.
Mortgage Default Rate
The percentage of borrowers who fail to make required loan payments on their mortgage.
Foreclosure Rate
The percentage of home mortgages on which the lender has started the process of taking ownership of the property because the borrower has failed to make the monthly payments.
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