If a Good Has Many Close Substitutes,then Its Demand Is

question 28

Multiple Choice

If a good has many close substitutes,then its demand is most likely

• A) elastic.
• B) inelastic.
• C) unit elastic.
• D) perfectly inelastic.
• E) elastic or inelastic depending on whether the price of the good is increasing or decreasing.

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Definitions:

Neurons

Specialized cells transmitting nerve impulses; the basic building blocks of the nervous system.

Nerve Cells

Specialized cells that transmit electrical signals throughout the body, forming the basis of the nervous system.

Reflexes

Automatic, involuntary responses to specific stimuli that do not require conscious thought.

Spinal Cord

A long, thin, tubular structure made up of nervous tissue, which extends from the brainstem down the back, and transmits neural signals between the brain and the body.