When a Good Has Many Close Substitutes Available, It Is

question 80

Multiple Choice

When a good has many close substitutes available, it is likely to be:

• A) less price elastic than a good without close substitutes available.
• B) more price elastic than a good with many complement goods available.
• C) less price elastic than a good with many complement goods available.
• D) more price elastic than a good without close substitutes available.

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Definitions:

Attention Seeking

Behaviors aimed at drawing attention or garnering sympathy from others.

Histrionic Personality

A personality disorder characterized by a pattern of excessive emotionality and attention-seeking behavior.

Personality Traits

Enduring characteristics that describe a person’s typical thoughts, emotional responses, and behaviors.

Learned Characteristics

Traits or behaviors not inherent at birth but developed through interactions with the environment and experiences.