Necessary and luxury goods both tend to be price inelastic.

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Tatiana Zaghi · Accepted Answer

Final Answer : True, Explanation :  Both necessary and luxury goods are often considered price inelastic, meaning that changes in price have a relatively small impact on the quantity demanded. This is because consumers are willing to pay more for these goods, even if the price increases.

Necessary and luxury goods both tend to be price inelastic.

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