The textbook for your economics class is available in an American version and in
ID: 1109489 • Letter: T
Question
The textbook for your economics class is available in an American version and in a much cheaper Indian version that has the same text but no colors for the graphs (the difference in prices is much higher than the difference in costs). Why is this the case?
No one in India has any use for color graphs.
Demand in the United States is much more inelastic than demand in India.
There are more substitutes for your textbook in the United States.
Demand in the United States is much more elastic than demand in India.
A.No one in India has any use for color graphs.
B.Demand in the United States is much more inelastic than demand in India.
C.There are more substitutes for your textbook in the United States.
D.Demand in the United States is much more elastic than demand in India.
Explanation / Answer
Answer
Option D
Demand in the United States is much more elastic than demand in India
The books have my substitute and elastic demand in US bu the price is very high for US version so the demand is highly elastic in India at that price and US have less elastic demand than the India given price ranges.
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