Answered: 3. The fewer substitutes for a good,…

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Economics

3. The fewer substitutes for a good, the higher its price elasticity of demand. * True False

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elastic And Its Application

Section: Chapter Questions

Problem 8QR

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3. The fewer substitutes for a good, the higher its price elasticity of demand. *
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