Answer to Question #237296 in Economics for CCW

Question

Demand Review: (pick one)

27) If there are adequate substitutes for a product, it is (elastic/inelastic).

28) If there purchase takes only a small portion of income, it is probably (elastic/inelastic).

Answer 1

27) If there are adequate substitutes for a product, it is elastic.

28) If their purchase takes only a small portion of income, it is probably inelastic.