For a business that sells a product for which there are, Business Economics

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For a business that sells a product for which there are

For a business that sells a product for which there are many close substitutes,

a. Demand will be relatively inelastic and market power relatively high

b. Demand will be relatively inelastic and market power relatively low

c. Demand will be relatively elastic and market power relatively high

d. Demand will be relatively elastic and market power relatively low

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Business Economics: For a business that sells a product for which there are

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