True/False
The availability of substitutes is one important factor affecting whether the demand for a product is elastic or inelastic.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q21: Which of the following is MOST likely
Q22: If a firm's total revenue DECREASES when
Q23: A firm in monopolistic competition faces no
Q24: The equilibrium point is that point at
Q25: "Kinked" demand curves:<br>A) are sometimes found in
Q27: A FIRM faces an almost perfectly flat
Q28: Which of the following statements about oligopoly
Q29: Which of the following statements about elasticity
Q30: If demand is inelastic, then total revenue
Q31: If total revenue remains the same when