Which of the following factors would indicate a less elastic demand?
A. The good represents a large fraction of the budget.
B. Demand is measured over a longer period of time.
C. There are few substitutes.
D. The price of the good is high.
Answer: C
Economics
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A) economic growth. B) comparative advantage. C) full employment. D) inefficient production.
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The marginal product of labor curve is the demand curve for labor
Indicate whether the statement is true or false
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