Question

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

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.

Answer 2

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

Step-by-step explanation: