Multiple Choice
Suppose the price of science textbooks increases by 50 percent. Suppose that the price of mystery novels also increases by 50 percent. The price of other books remains unchanged. The demand for science textbooks is _____ price elastic than the demand for mystery novels because science textbooks have _____ available substitutes.
A) less; more
B) more; less
C) less; less
D) more; more
Correct Answer:
Verified
Correct Answer:
Verified
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