The Demand for Werthers Candy Is Likely

question 396

Multiple Choice

The demand for Werthers candy is likely

• A) elastic because candy is expensive relative to other snacks.
• B) elastic because there are many close substitutes for Werthers.
• C) elastic because Werthers are regarded as a necessity by many people.
• D) inelastic because it is usually eaten quickly,making the relevant time horizon short.

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Definitions:

Imitation

The action of using someone or something as a model and trying to replicate or emulate their behavior, process, or product.

Innovating Firms

Companies that introduce new products, services, or processes, contributing to technological progress and market dynamics.

Enhance Profits

Strategies or actions taken by a business to increase its net earnings.

Imitation

The act of copying or mimicking the features, designs, or actions of another product, service, or behavior, often with the intention of capturing value or recognition.