If a commodity has many substitutes, it is most likely that?

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Economics JAMB 1981

If a commodity has many substitutes, it is most likely that?

  • the demand curve is fairly inelastic
  • the demand curve is fairly elastic checkmark
  • the demand curve is paraell to the quantity axis
  • the demand curve is positively sloped
  • the price of the commodity is too high

The correct answer is: B

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