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A good in the presence of many close substitutes is predicted to have relativelyelastic demand, since consumers can easily choose to purchase one of the
A good in the presence of many close substitutes is predicted to have relativelyelastic demand, since consumers can easily choose to purchase one of the close substitutes if the price of the good were to increase
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Intermediate Microeconomics
Authors: Hal R. Varian
9th edition
978-0393123975, 393123979, 393123960, 978-0393919677, 393919676, 978-0393123968
