Which of the following is false? a. In the long run, demand curves become more elastic b. Products with many complements hav

Question

2 years ago

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Which of the following is false? a. In the long run, demand curves become more elastic b. Products with many complements hav

e 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

Business

1 answer:

matrenka [14] · Answer 1 · 2022-08-02T21:22:05+03:00

Answer:

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

Which of the following is false? a. ​ In the long run, demand curves become more elastic b. ​ Products with many complements hav

Which of the following is false? a. In the long run, demand curves become more elastic b. Products with many complements hav