The Demand for Textbooks Is Price-Inelastic

question 206

Multiple Choice

The demand for textbooks is price-inelastic.Which statement would explain this phenomenon?

• A)Many alternative textbooks can be used as substitutes.
• B)Students have a lot of time to adjust to price changes.
• C)Textbook purchases consume a large portion of most students' income.
• D)Textbooks are a necessity for most students.

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