A good without any close substitutes is likely to have ___________ demand, since consumers cannot easily switch to a substitute good if the price of the good rises.

A good without any close substitutes is likely to have ___________ demand, since consumers cannot easily switch to a substitute good if the price of the good rises.


A good without any close substitutes is likely to have ___________ demand, since consumers cannot easily switch to a substitute good if the price of the good rises.


A. elastic

B. perfectly elastic

C. unit-elastic


D. inelastic


Answer Key: D