Multiple Choice
Resource X has many close substitutes, whereas resource Y has no close substitutes. Other things equal, we would expect
A) the demand for resource Y to be more elastic than the demand for resource X.
B) resources X and Y to be close substitutes.
C) resource X to be more expensive than resource Y.
D) the demand for resource X to be more elastic than the demand for resource Y.
Correct Answer:

Verified
Correct Answer:
Verified
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