Goods with Many Close Substitutes Tend to Have

question 39

Multiple Choice

Goods with many close substitutes tend to have

• A)more elastic demands.
• B)less elastic demands.
• C)price elasticities of demand that are unit elastic.
• D)income elasticities of demand that are negative.

Recognize and minimize the use of legalese to enhance clarity for laypeople.

Appreciate the role of drafting and editing in producing clear and effective legal documents.

Use gender-neutral language in legal writing.

Understand the advocacy approach in legal writing to favorably present facts and issues.

---

Definitions:

Average Fixed Cost

When you divide the unchanging production costs by the total units produced, this value diminishes as the level of production goes up.

Mixers

Devices or software used to combine, adjust, and control the levels of different audio signals.

Average Fixed Cost

The constant expenses associated with manufacturing divided by the amount of product created.

Mixers

Devices used to blend or mix various ingredients together, common in food processing and preparation.