Name brand apparel have many substitutes and can get very expensive, as a result their demand is likely to be
A)elastic.
B)perfectly elastic.
C)inelastic.
D)unit elastic.

Question

Quizplus · Accepted Answer

When there are many substitutes for a product, consumers have many options to choose from, making the demand for a specific brand less urgent or necessary. Therefore, if the price of the name brand apparel increases, consumers may choose to purchase a similar substitute instead, resulting in a larger change in quantity demanded and making the demand elastic.

Name Brand Apparel Have Many Substitutes and Can Get Very