If a good is a luxury item that looms large in the household budget, then demand will tend to:
A.be more price-elastic.
B.be less price-elastic.
C.have price elasticity equal to 1.
D.be the same as that of a good that is a necessity.

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The Answer of If a good is a luxury item that looms large in the household budget, then demand will tend to:
A.be more price-elastic.
B.be less price-elastic.
C.have price elasticity equal to 1.
D.be the same as that of a good that is a necessity.

If a Good Is a Luxury Item That Looms Large