Homework answers / question archive / 1)State true or false and justify your answer: One of the most important factors in determining whether or not the demand for a product is elastic or inelastic is whether or not substitutes for it exist

1)State true or false and justify your answer: One of the most important factors in determining whether or not the demand for a product is elastic or inelastic is whether or not substitutes for it exist

Economics

Share With

1)State true or false and justify your answer:

One of the most important factors in determining whether or not the demand for a product is elastic or inelastic is whether or not substitutes for it exist.

2)State true or false and justify your answer:

The elasticity of demand deals with the relationship between price and quantity demanded.