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Which factor makes demand more inelastic?

Which factor makes demand more inelastic?
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
  • A Large number substitutes
  • B Flexible consumer preference
  • C Luxury consumption pattern
  • D Absence of close substitutes
Correct Answer: Option D
Explanation:
When consumers cannot find alternatives, they continue buying the product even if price rises. This makes demand relatively inelastic.

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