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Which of the following resources is most likely to have elastic demand?

A

A resource used to produce a product which has few substitutes.

B

A resource that has few substitutes.

C

A resource for which the cost makes up a large part of a firm's overall production costs.

D

A resource used to produce a product that is considered a necessity.

E

A resource that is used to produce a product that makes up a small part of consumer's budgets.

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