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Consumer surplus on a luxury good is likely to be _______. Select one: a. relatively large...

Consumer surplus on a luxury good is likely to be _______. Select one:

a. relatively large because price elasticity of demand is high
b. relatively large because price elasticity of demand is low
c. relatively small because price elasticity of demand is low
d. none of the answers offered are correct
e. relatively small because price elasticity of demand is high

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