In general, the more the substitutes available for a good
A) the more inelastic the demand for the good.
B) the more elastic the demand for the good.
C) the greater the demand for the good.
D) the less the demand for the good.
Correct Answer:
Verified
Q23: Income elasticity of demand measures how _.
A)responsive
Q25: In general, the fewer the substitutes available
Q27: Total revenue will increase if price
A)rises and
Q29: A firm that changes its price and
Q31: An elasticity of 1.5 means that a
Q33: A perfectly inelastic demand curve is
A)a vertical
Q34: Movement from the lower to the upper
Q36: If more substitutes become available demand tends
Q37: Which of these elasticities is the least
Q40: 
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