Question

You own a sandwich shop in a neighborhood that has many other competing sandwich shops. This means your demand is probably ___________.

Question 6 options:

Inelastic


Time-based


Elastic


Need-based

Answer 1

Elastic the more competing shops the more you have to be better

Answer 2

The answer that would best complete the given statement above would be the term INELASTIC. The answer is the first option. You own a sandwich shop in a neighborhood that has many other competing sandwich shops. This means your demand is probably INELASTIC. Hope this helps.