When very few substitutes for a good exist, demand will be

A) elastic.
B) unit-elastic.
C) inelastic.
D) perfectly elastic.

C

Economics

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What effect do international norms have on states?

a. They ensure that states follow strict regulations. b. They motivate states to behave in certain ways. c. They have little influence since states increasingly ignore them. d. They outweigh the power and self-interest of states.

Economics

A consumer who has chosen the right mix of goods and services to maximize his or her utility is said to have achieved

A) consumer equilibrium. B) consumer benefit. C) consumer surplus. D) consumer optimum.

Economics