If a Product Has a Close Substitute, Its Demand Will

question 57

Multiple Choice

If a product has a close substitute, its demand will likely be ________.

• A) inelastic
• B) elastic
• C) cross-elastic
• D) fixed
• E) break-even

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Definitions:

Indicated Atom

An atom within a molecule which is highlighted or specified for discussion or analysis.

Acrylonitrile

An organic compound that is a colorless volatile liquid, used in the manufacture of plastics, adhesives, and synthetic rubber.

σ Bonds

Single covalent bonds resulting from the head-on overlap of atomic orbitals and involving two electrons, characterized by their high strength and rotation around the bond axis.

π Bonds

Covalent bonds formed by the sideways overlap of two p-orbitals, containing a pair of electrons located above and below the axis of the bonded atoms.