# The price elasticity of demand measures 0.4. Which of the following statements is correct? Choose one:...

###### Question:

The price elasticity of demand measures 0.4. Which of the following statements is correct?

Choose one:

a. The product in question is a substitute.

b. The product in question is a luxury product.

c. This is unit elasticity.

d. The product in question is a necessity.

e. The product in question is inferior good.

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