Which of the following would most likely make the demand for an item more elastic?

Question

Quizplus · Accepted Answer

When there are no costs associated with switching to a competitor's product, buyers are more likely to switch if the price of the original product increases. This makes their demand for the original product more elastic. In contrast, if buyers perceive few close substitutes (A) or the item represents a small fraction of their budget (B), they may be less likely to switch and their demand may be less elastic. If buyers have not had time to adjust to the price change (D), they may not have changed their behavior yet, but this does not necessarily make their demand more elastic.

Which of the Following Would Most Likely Make the Demand