Solved

Resource X Has Many Close Substitutes, Whereas Resource Y Has

Question 147

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:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions