Cars Have Higher Price Elasticity of Demand Than Tyres and Tubes

question 41

Multiple Choice

Cars have higher price elasticity of demand than tyres and tubes because:

• A) tyres and tubes and cars are substitutes.
• B) tyres and tubes and cars are complements.
• C) cars are a luxury and tyres and tubes are a necessity.
• D) tyres and tubes are a luxury and cars are a necessity.

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Definitions:

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