Multiple Choice
The narrower the definition of a product,
A) the larger the number of substitutes and the greater the price elasticity of demand.
B) the smaller the number of substitutes and the greater the price elasticity of demand.
C) the larger the number of substitutes and the smaller the price elasticity of demand.
D) the smaller the number of substitutes and the smaller the price elasticity of demand.
Correct Answer:
Verified
Correct Answer:
Verified
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