The More Substitutes There Are for a Monopolist's Product

question 220

Multiple Choice

The more substitutes there are for a monopolist's product

• A) the less elastic is the demand curve.
• B) the more elastic is the demand curve.
• C) the steeper is the demand curve.
• D) the more positively sloped the demand curve becomes.

---

Definitions:

Sustainable Development

Development that meets the needs of the present without compromising the ability of future generations to meet their own needs, encompassing economic, social, and environmental sustainability.

Renewable Sources

Natural resources that can be replenished over short periods, such as solar, wind, and hydro energy.

Total Energy Production

The overall amount of energy generated by a country or region from various sources like fossil fuels, nuclear, and renewables.

Renewable Energy

refers to energy that is collected from renewable resources, which are naturally replenished on a human timescale, such as sunlight, wind, rain, tides, waves, and geothermal heat.