Suppose the Demand for a Good Is Currently Unit Elastic

question 253

Multiple Choice

Suppose the demand for a good is currently unit elastic over the relevant range. Then a new substitute good is introduced to the market. As a result, demand over that range is now likely to be

• A)​Unit elastic.
• B)​Relatively elastic.
• C)​Relatively inelastic.
• D)​Perfectly elastic.

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Definitions:

Chondral

Pertaining to or involving cartilage, often used in the context of joint diseases and conditions.

Costal

Pertaining to the ribs or the region near the ribs.

Mandibular

Relating to the mandible, or lower jawbone.

Tumor Necrosis Factor

A cell signaling protein (cytokine) involved in systemic inflammation and stimulation of the acute phase reaction, which plays a role in the immune system's response to cancer and infection.