Other things being equal the elasticity of demand for a product will be greater if...
90.2K
Verified Solution
Link Copied!
Question
Basic Math
Other things being equal the elasticity of demand for a product will be greater if there are few or no substitutes available if it is a small part of the consumer s budget in the long run as compared to the short run all of the above
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
