When There Few Close Substitutes Available for a Good, Demand

question 111

Multiple Choice

When there few close substitutes available for a good, demand tends to be

• A)perfectly inelastic.
• B)perfectly elastic.
• C)relatively inelastic.
• D)relatively elastic.

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Definitions:

Epinephrine

A hormone and neurotransmitter also known as adrenaline, involved in regulating heart rate, blood vessel and air passage diameters, and metabolic shifts.

Instant Glucose

A quick-dissolving sugar supplement used to raise blood sugar levels rapidly, often used in treating hypoglycemia.

National Safety Council

An organization in the United States that focuses on promoting safety in the home, workplace, and on the road through leadership, research, education, and advocacy.