Table 1
Good Price Elasticity of Demand
A | -2.1
B | 0.4
Refer to Table 1. Which of the following is consistent with the elasticities given in Table 1?
A) A us a luxury & B is a necessity
B) A is an inexpensive good & B is an expensive good
C) A has fewer substitutes than B
D) A is a good immediately after a price increase & B is that same good 3 years after the price increase.