Lack of Good Substitutes for a Particular Product Affects Its

question 1

Multiple Choice

Lack of good substitutes for a particular product affects its demand curve as follows:

• A) Makes it more elastic
• B) Makes it less elastic
• C) Makes it unitary elastic
• D) Doesn't affect it at all
• E) Cannot be determined without knowing the supply curve

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Definitions:

Southwest

A region in the United States generally considered to include Arizona, New Mexico, Texas, and parts of surrounding states, known for its desert landscape and cultural heritage.

French

Relating to France or its people, language, or culture, known for its significant contributions to art, science, and philosophy, among other fields.

Dutch

Relating to the Netherlands, its people, or their language.