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

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

Explanation

No official explanation is available for this question at this time. Please check contributions posted by others below. If you can provide an explanation to help other student learn.
Previous Question Next Question

Leave A Comment