If a product is a necessity and has no substitutes at all, demand for the product is most likely to ...

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If a product is a necessity and has no substitutes at all, demand for the product is most likely to ...

If a product is a necessity and has no substitutes at all, demand for the product is most likely to be
A) inelastic.
B) elastic.
C) unitary elastic.
D) very inelastic.

Textbook

Survey of Economics: Principles, Applications and Tools

Edition: 6^th

Authors: O'Sullivan, Sheffrin, Perez

Read 43 times

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