Question 49
EasyOriginal questionDemand for a good with many close substitutes tends to be
Show the answer and explanation
CorrectNot quiteAnswer D
Correct answer: D
Explanation
If its price rises, buyers can easily switch to a substitute, so quantity falls a lot.
- Concept
- Substitutes and elasticity
- Typical timeTypical
- 40 s
- Your timeYours
- —
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