The textbook for your economics class is available in an American version and in

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? A. There are more substitutes for your textbook in the United States. O B. Demand in the United States is much more inelastic than demand in India. O C. Demand in the United States is much more elastic than demand in India. 0 D. No one in India has any use for color graphs.

Explanation / Answer

Answer
Option B
The US have more inelastic demand than India because the Indian have very elastic demand than the US, If the price high like the US then no one affords the books.
The more substitute and more elastic is the same thing if there more substitute then the good is more elastic but the price range also matters.

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