How Can the Market Demand for a Product Be Inelastic

question 107

Multiple Choice

How can the market demand for a product be inelastic but the demand for a particular firm is elastic?

• A) There is no advertising.
• B) There is a sufficiently large number of sellers.
• C) There is only one or two sellers.
• D) Buyers do not have complete information.

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Definitions:

Histamine Release

The process by which histamine is released from immune cells into the body, often in response to an allergic reaction, leading to symptoms like itching, swelling, and redness.

Sympathetic Nervous System

A part of the autonomic nervous system that activates the body's fight-or-flight response during stressful situations.

Chronic Obstructive Pulmonary Disease (COPD)

A progressive lung disease that makes it hard to breathe due to obstruction of airflow.

Wakefulness

The state of being awake and aware of one's environment, contrasted with sleep or unconsciousness.