Goods with Close Substitutes Tend to Have More Elastic Demands

question 59

True/False

Goods with close substitutes tend to have more elastic demands than do goods without close substitutes.

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Definitions:

Mac

A line of personal computers designed, developed, and marketed by Apple Inc., known for its innovative design and use of proprietary software.

Microsoft

A multinational technology company known for its software products, including the Windows operating system and Office suite.

Office 365

Office 365 is a subscription service offered by Microsoft that includes access to Office applications plus other productivity services that are enabled over the Internet (cloud services).

Benefits

Advantages or positive outcomes that are derived from performing an action, being in a specific situation, or participating in a program.