A change in the price of paper towels will tend to have _____
A)an elastic demand.
B)a perfectly elastic demand.
C)an inelastic demand.
D)an upward-sloping demand curve.
E)many close substitutes.

Question

Quizplus · Accepted Answer

Paper towels are often considered a necessity and do not have many close substitutes. Therefore, a change in the price of paper towels is likely to have an inelastic demand, meaning that the quantity demanded will not change much in response to a change in price.

A Change in the Price of Paper Towels Will Tend