If a good has many close substitutes, then its demand is most likely
A) elastic.
B) unit elastic.
C) inelastic.
D) perfectly inelastic.
E) elastic or inelastic depending on whether the price of the good is increasing or decreasing.

Name: If a good has many close substitutes, then its demand is most likely A) elastic. B) unit elastic. C) inelastic. D) perfectly inelastic. E) elastic or inelastic depending on whether the price of the good is increasing or decreasing.
Brand: Quizplus
Rating: 4.9 (44 reviews)

Question

Quizplus · Accepted Answer

The Answer is A

If a Good Has Many Close Substitutes, Then Its Demand