If a Product Has Very Few Substitutes, Demand Elasticity Is

question 339

Multiple Choice

If a product has very few substitutes, demand elasticity is likely to be

• A) 1.
• B) elastic.
• C) infinitely elastic.
• D) inelastic.

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Technological Innovation

The process of developing and implementing new technologies or improving existing ones to meet emerging needs or to create new market opportunities.

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