If there are 10 bakeries in a small city, why might the elasticity of demand for the products any one of them supplies be high? Why might this small city not be a good location for you to open a new bakery?

If there are 10 bakeries in a small city, why might the elasticity of demand for the products any one of them supplies be high? Why might this small city not be a good location for you to open a new bakery?

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter3: Your Role As A Consumer

Section: Chapter Questions

Problem 5AA

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If there are 10 bakeries in a small city, why might the elasticity of demand for the products any one of them supplies be high? Why might this small city not be a good location for you to open a new bakery?

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