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-If a Product Has Few Substitutes,which of the Following Statements

Question 64

Multiple Choice

-If a product has few substitutes,which of the following statements is correct? A) It is likely that its income elasticity is high. B) It is likely that it is an inferior product. C) It is likely that its supply elasticity is high. D) It is likely that its price elasticity of demand is low.
-If a product has few substitutes,which of the following statements is correct?


A) It is likely that its income elasticity is high.
B) It is likely that it is an inferior product.
C) It is likely that its supply elasticity is high.
D) It is likely that its price elasticity of demand is low.

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