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Author Question: Which of the following situations could explain why product X has a relatively high price elasticity ... (Read 54 times)

kmcolvin

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on: Oct 12, 2022
Which of the following situations could explain why product X has a relatively high price elasticity of demand in the short run?
◦ The prices of substitute products are constant.
◦ The price of product X is too low.
◦ There are many substitutes for product X, and consumers have an ability to switch quickly to those substitutes.
◦ The price of product X is too high.
◦ There are few substitutes for product X in the short run.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by kmcolvin on Oct 12, 2022

marufp

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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kmcolvin

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Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

pratush dev

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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