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July 4, 2015

Homework Help: Economics

Posted by Zach Ketchup on Thursday, April 12, 2012 at 10:45am.

The price of cranberry juice suddenly increases. As a result, Glenda begins drinking more grape juice, which is less expensive, but tastes just as good to her. In this case, Glenda’s elastic demand is due to

A. availability of substitutes.
B. relative importance.
C. necessities versus luxuries.
D. change over time.

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