There Are Very Few,if Any,good Substitutes for Motor Oil

question 110

Multiple Choice

There are very few,if any,good substitutes for motor oil.Therefore,

• A) the demand for motor oil would tend to be inelastic.
• B) the demand for motor oil would tend to be elastic.
• C) the demand for motor oil would tend to respond strongly to changes in prices of other goods.
• D) the supply of motor oil would tend to respond strongly to changes in people's tastes for large cars relative to their tastes for small cars.