A life saving medicine without any close sustitutes will tend to have a.A small elasticity of demand b.A large elasticity of demand c.A small elasticity of supply d.A large elasticity of supply.To determine demand elasticity and sustitute.
A life saving medicine without any close sustitutes will tend to have a.A small elasticity of demand b.A large elasticity of demand c.A small elasticity of supply d.A large elasticity of supply.To determine demand elasticity and sustitute.
Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN:9781285165875
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter5: Elastic And Its Application
Section: Chapter Questions
Problem 1QCMC: A life-saving medicine without any close substitutes will tend to have a. a small elasticity of...
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Question
A life saving medicine without any close sustitutes will tend to have
a.A small
b.A large elasticity of demand
c.A small elasticity of supply
d.A large elasticity of supply.To determine demand elasticity and sustitute.
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