If a Good Has Many Close Substitutes,then Its Demand Is

question 28

Multiple Choice

If a good has many close substitutes,then its demand is most likely

• A) elastic.
• B) inelastic.
• C) unit elastic.
• D) perfectly inelastic.
• E) elastic or inelastic depending on whether the price of the good is increasing or decreasing.

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Definitions:

Germinal

Relating to the earliest phase of embryonic development, in the first two weeks post-conception when the zygote begins to divide and grow.

Zygote

A fertilized egg cell that results from the union of a female gamete (egg, or ovum) with a male gamete (sperm).

Embryo

The early developmental stage of an organism, following fertilization and preceding fetal development.

Amnion

A thin, protective membrane that forms a sac around the embryo or fetus during pregnancy, containing the amniotic fluid.