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

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Geography

Nevaeh Yates

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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Answers (2)

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Morgan Hodges · Answer 1

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.

Macy · Answer 2

Answer:if no substitutes are available, demand for a good is more likely to be inelastic.