Author Question: The availability of substitutes makes the demand for a good less elastic. a. True b. ... (Read 25 times)

segrsyd · **on:** Jul 1, 2018

The availability of substitutes makes the demand for a good less elastic.
a. True
b. False

Question 2

In the real world, demand is not likely to be perfectly inelastic at every price because
a. no substitutes exist for some goods
b. some consumers will be unable to afford very high prices with given incomes
c. at low prices, consumers always want a lot
d. consumers are willing to pay any price for certain goods
e. the prices of certain goods don't change