Multiple Choice
There are very few,if any,good substitutes for motor oil.Therefore,the
A) demand for motor oil would tend to be inelastic.
B) demand for motor oil would tend to be elastic.
C) demand for motor oil would tend to respond strongly to changes in prices of other goods.
D) supply of motor oil would tend to respond strongly to changes in people's tastes for large cars relative to their tastes for small cars.
Correct Answer:

Verified
Correct Answer:
Verified
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