Multiple Choice
The demand for textbooks is price-inelastic.Which statement would explain this phenomenon?
A) Many alternative textbooks can be used as substitutes.
B) Students have a lot of time to adjust to price changes.
C) Textbook purchases consume a large portion of most students' income.
D) Textbooks are a necessity for most students.
Correct Answer:
Verified
Correct Answer:
Verified
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