The more substitutes there are for a good
A)the flatter the demand curve will be.
B)the steeper the demand curve will be.
C)the larger the income effect.
D)the less important the price of the good will be determining demand.

Question

Quizplus · Accepted Answer

The presence of more substitutes means that consumers have more options to choose from and are therefore more willing to switch away from the original good if its price increases, resulting in a flatter demand curve.

The More Substitutes There Are for a Good