Resource X Has Many Close Substitutes, Whereas Resource Y Has

question 67

Multiple Choice

Resource X has many close substitutes, whereas resource Y has no close substitutes. Other things equal, we would expect

• A)the demand for resource Y to be more elastic than the demand for resource X.
• B)resources X and Y to be close substitutes.
• C)resource X to be more expensive than resource Y.
• D)the demand for resource X to be more elastic than the demand for resource Y.

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