If there are very few substitutes for a product, then an increase in its price causes O a relatively large increase in quantity demanded. a relatively large decrease in quantity demanded. a relatively small increase in quantity demanded. a relatively small decrease in quantity demanded. no change in quantity demanded.
If there are very few substitutes for a product, then an increase in its price causes O a relatively large increase in quantity demanded. a relatively large decrease in quantity demanded. a relatively small increase in quantity demanded. a relatively small decrease in quantity demanded. no change in quantity demanded.
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter3: Market Demand And Supply
Section: Chapter Questions
Problem 18SQ
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Transcribed Image Text:If there are very few substitutes for a product, then an increase in its price causes
O a relatively large increase in quantity demanded.
a relatively large decrease in quantity demanded.
a relatively small increase in quantity demanded.
a relatively small decrease in quantity demanded.
no change in quantity demanded.
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