In general,the more the substitutes available for a good
A)the more inelastic the demand for the good.
B)the more elastic the demand for the good.
C)the greater the demand for the good.
D)the less the demand for the good.

Question

Quizplus · Accepted Answer

The more substitutes available for a good means that consumers have more options to choose from if the price of the original good increases. Therefore, the demand for the original good is more elastic because consumers can easily switch to the substitute products.

In General,the More the Substitutes Available for a Good