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wrote...
Posts: 160
2 months ago

Question 1.

When many substitutes exist for a good, demand will be

• unit-elastic.

• inelastic.

• perfectly unit-elastic.

• elastic.

Question 2.

When very few substitutes for a good exist, demand will be

• elastic.

• unit-elastic.

• perfectly elastic.

• inelastic.
Source  Download
Economics Today: The Micro View
Edition: 19th
Author:
Read 11 times
1 Reply
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Replies
wrote...
2 months ago

Answer 1

elastic.

Answer 2

inelastic.
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