The larger the number of substitutes a product has, the more elastic it is: the fewer the number of substitutes it has, the more inelastic it is. * Perfectly inelastic demand Elasticity of supply Time frame Lumuncor necessity

The larger the number of substitutes a product has, the more elastic it is: the fewer the number of substitutes it has, the more inelastic it is. * Perfectly inelastic demand Elasticity of supply Time frame Lumuncor necessity

Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781305971509

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elasticity And Its Application

Section: Chapter Questions

Problem 1CQQ: A life-saving medicine without any close substitutes will tend to have a. a small elasticity of...

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Matching Terms
The larger the number of substitutes a product has, the more
elastic it is: the fewer the number of substitutes it has, the more inelastic it
is. *
Perfectly inelastic demand
Elasticity of supply
Time frame
LuYury.cr pecessity

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