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    Exam 8: Market Structure and Long Run Equilibrium
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    ​Lipitor,a Heart Medication with Few Substitutes,should Have an Own-Price Elasticity
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​Lipitor,a Heart Medication with Few Substitutes,should Have an Own-Price Elasticity

Question 11

Question 11

Multiple Choice

​Lipitor,a heart medication with few substitutes,should have an own-price elasticity of demand that is:


A) ​Relative elastic
B) Relatively inelastic
C) Perfectly inelastic
D) ​Perfectly elastic

Correct Answer:

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