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18 July, 18:15

What type of demand would there be for a good that had NO substitutes? Select One Elastic or Inelastic

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  1. 18 July, 18:46
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    Inelastic

    Explanation: When several close substitutes are available, consumers can easily switch from one good to another even if there is only a small change in price. Conversely, if no substitutes are available, demand for a good is more likely to be inelastic.
  2. 18 July, 21:52
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    Answer:if no substitutes are available, demand for a good is more likely to be inelastic.
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