Multiple Choice
The demand for Hubba Bubba bubble gum is likely
A) elastic because gum is expensive relative to other snacks.
B) elastic because there are many close substitutes for Hubba Bubba.
C) elastic because bubble gum is regarded as a necessity by many people.
D) inelastic because it is consumed quickly, making the relevant time horizon short.
Correct Answer:
Verified
Correct Answer:
Verified
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