Economics · Consumer Behaviour and Demand
A commodity having no close substitute available will generally have:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Infinite price elasticity of demand
- 2A very low price elasticity of demand✓
- 3Perfectly elastic demand
- 4A very high price elasticity of demand
Correct answer
A very low price elasticity of demand
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