Figure 2.5.1 -Refer to Figure 2.5.1 Above. If Close Substitutes Are Difficult

question 125

Multiple Choice

Figure 2.5.1
-Refer to Figure 2.5.1 above. If close substitutes are difficult to find in the short run, which of the demand curves in the figure best represents market demand in the short run?

• A) D₁
• B) D₂
• C) Both curves are short-run curves.
• D) Both curves are long-run curves.

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