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May 22, 2015

Homework Help: Economics

Posted by bree on Monday, April 1, 2013 at 12:00pm.

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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