[Solved] Price elasticity of demand of a product will be more inelastic if

Q.	Price elasticity of demand of a product will be more inelastic if
A.	It forms a major part of consumer house hold budget
B.	It forms a very small part of consumers household budget
C.	It is inferior
D.	It is for mass consumption
Answer» B. It forms a very small part of consumers household budget

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Fundamentals of Economics and Management

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