When There Are Few Close Substitutes Available for a Good

question 41

Multiple Choice

When there are few close substitutes available for a good, demand tends to be

• A) perfectly inelastic.
• B) perfectly elastic.
• C) relatively inelastic.
• D) relatively elastic.

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Definitions:

NYSE

The New York Stock Exchange (NYSE) is one of the largest stock exchanges in the world, where public companies' stocks are bought, sold, and traded.

Initial Public Offerings

The process wherein a private company sells its shares to the public for the first time to raise capital.

Long Term

Refers to an extended period of time, especially in the context of investments or financial planning, typically over a year.

Initial Public Offering

The first sale of stock by a private company to the public, marking a transition from private to public ownership.