Competitive firms frequently use advertising to differentiate their product from their competitors' products

According to Hughes and Cain (2011), taxation can be a form of forcible seizure of property, under certain circumstances

Indicate whether the statement is true or false

There are very few, if any, good substitutes for motor oil. Therefore, the

a. demand for motor oil would tend to be inelastic. b. demand for motor oil would tend to be elastic. c. demand for motor oil would tend to respond strongly to changes in prices of other goods. d. supply of motor oil would tend to respond strongly to changes in people's tastes for large cars relative to their tastes for small cars.