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17 August, 22:27

How does the percentage of your budget you spend on a good affect it's elasticity why is this the case?

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  1. 17 August, 22:55
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    The greater the percentage of your budget, the more elastic a person becomes, meaning that they are more price sensitive and small increases in price will affect your decision to purchase. The things will higher percentage of budget spending are usually bigger items and small changes in price can affect a person's discretionary money for the rest of their expenses.
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