If Consumers Think That There Are Very Few Substitutes for a Good

question 35

Multiple Choice

If consumers think that there are very few substitutes for a good, then

• A) supply would tend to be price elastic.
• B) none of these answers are correct.
• C) demand would tend to be price inelastic.
• D) demand would tend to be price elastic.
• E) supply would tend to be price inelastic.

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Definitions:

Clinical Breast Exam

A physical examination of the breasts by a healthcare professional to check for lumps or other changes.

Inverted Nipple

A condition where the nipple, instead of pointing outward, is retracted into the breast.

Areolar Pigment

The natural coloration of the areola, the darkened area around the nipple, which can vary greatly among individuals.

Erect Nipples

A condition where the nipples become hard and raised, often as a result of cold temperature or sexual arousal, due to the contraction of muscle fibers.