Multiple Choice
Satellite TV is a close substitute for cable TV. In the 1990's, small satellite TV units were developed that made it less costly for individual consumers to subscribe to satellite TV service. This caused the price elasticity of demand for cable TV service to:
A) become more inelastic.
B) become less elastic.
C) become more elastic.
D) shift to the left.
Correct Answer:
Verified
Correct Answer:
Verified
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