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

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

Answer: C

Economics

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________ marginal opportunity cost implies that the more resources already devoted to any activity, the payoff from allocating yet more resources to that activity increases by progressively smaller amounts

A) Constant B) Increasing C) Decreasing D) Negative

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Census data clearly shows the United States economy is becoming increasingly more oligopolistic

Indicate whether the statement is true or false

Economics