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-If a Product Has Few Substitutes,which of the Following Statements

question 64

Multiple Choice

  -If a product has few substitutes,which of the following statements is correct? A) It is likely that its income elasticity is high. B) It is likely that it is an inferior product. C) It is likely that its supply elasticity is high. D) It is likely that its price elasticity of demand is low.
-If a product has few substitutes,which of the following statements is correct?


Definitions:

Behaviors

Observable actions or reactions of individuals, often in response to their environment or internal stimuli.

Hands-on Guidance

Direct involvement and leadership that includes personal demonstration and instruction.

Poor Delegation

Ineffective distribution of tasks or responsibilities to subordinates, often leading to project inefficiency or failure.

Task-oriented

Focusing primarily on the tasks that need to be accomplished for the achievement of organizational goals.

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