The elasticity for the demand of durable goods is typically C. Greater Than Unity.

Here's why:

1. Durable goods are goods that do not wear out quickly and last over a long period. Examples include cars, furniture, and appliances.

2. The demand for these goods is often elastic because they are not immediately necessary for survival or daily functioning. This means that consumers can delay their purchase or even decide not to buy them if the price is too high.

3. Therefore, a small change in price can lead to a significant change in the quantity demanded, making the elasticity greater than unity.

4. However, it's important to note that this can vary depending on the specific good and the consumer's income and preferences. For example, a luxury car's demand might be highly elastic, while a refrigerator might be less so because it's more of a necessity.

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The elasticity for the demand of durable goods is typically C. Greater Than Unity.

Here's why:

1. Durable goods are goods that do not wear out quickly and last over a long period. Examples include cars, furniture, and appliances.

2. The demand for these goods is often elastic because they are not immediately necessary for survival or daily functioning. This means that consumers can delay their purchase or even decide not to buy them if the price is too high.

3. Therefore, a small change in price can lead to a significant change in the quantity demanded, making the elasticity greater than unity.

4. However, it's important to note that this can vary depending on the specific good and the consumer's income and preferences. For example, a luxury car's demand might be highly elastic, while a refrigerator might be less so because it's more of a necessity.

Knowee AI · Accepted Answer

The elasticity for the demand of durable goods is typically C. Greater Than Unity.

Here's why:

1. Durable goods are goods that do not wear out quickly and last over a long period. Examples include cars, furniture, and appliances.

2. The demand for these goods is often elastic because they are not immediately necessary for survival or daily functioning. This means that consumers can delay their purchase or even decide not to buy them if the price is too high.

3. Therefore, a small change in price can lead to a significant change in the quantity demanded, making the elasticity greater than unity.

4. However, it's important to note that this can vary depending on the specific good and the consumer's income and preferences. For example, a luxury car's demand might be highly elastic, while a refrigerator might be less so because it's more of a necessity.

12.The elasticity for the demand of durable goods is: A. Zero B. Equal To Unity C. Greater Than Unity D. Less Than Unity

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