Firms that produce goods with few or no substitutes will find that:
A)lowering price increases total revenues.
B)raising price decreases total revenues.
C)raising price increases total revenues.
D)raising price leaves total revenues unchanged.

Question

Quizplus · Accepted Answer

If there are few substitutes,demand will be inelastic.Quantity demanded will change a relatively small amount when price changes.

Firms That Produce Goods with Few or No Substitutes Will