When many substitute products are available, demand is inelastic.

Answer the following statement true (T) or false (F)


False

Demand is elastic when there are many substitute products available.

Business

You might also like to view...

Which of the following is NOT one of the three major parts of a speech?

a. Introduction b. Body c. Conclusion d. Questions for the audience

Business

The t distribution is a symmetric bell-shaped distribution that is useful for small sample testing

Indicate whether the statement is true or false

Business

The ________ is the basic governing document of a corporation which must be filed with the secretary of state of the state of incorporation

A) debt security B) redeemable stock C) certificate of authority D) articles of incorporation

Business

A monochronic time schedule is one in which:

A. people tend to place higher value on personal involvement than on getting things done on time. B. people tend to do several things at the same time irrespective of the amount of work involved. C. things are done in a random way. D. things are done in a linear fashion.

Business