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28 September, 06:34

Which of the following is false? a. In the long run, demand curves become more elastic b. Products with many complements have less elastic demand c. Products with more close substitutes have more elastic demand d. The demand for any individual brand is less elastic than industry aggregate demand

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  1. 28 September, 07:02
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    d. The demand for any individual brand is less elastic than industry aggregate demand

    Explanation:

    A consumer will change brand before leaving the market

    as considering the consumer wants to maximize their utility it will always consume for that goal as the bran is a premium which provides utility as the price of that particular brand cuts form their competitors it will make the demad more elastic as i is cheaper to move toother suppliers
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Home » Business » Which of the following is false? a. In the long run, demand curves become more elastic b. Products with many complements have less elastic demand c. Products with more close substitutes have more elastic demand d.
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