All other things being equal, the __________ substitutes for a good, the __________ the good's price elasticity of demand tends to be.
A)fewer; higher
B)more; higher
C)more; lower
D)There is not enough information provided to answer the question.

Question

Quizplus · Accepted Answer

When there are more substitutes for a good, consumers have more options and can switch to other products if the price of the original good increases. This makes the demand for the original good more elastic, meaning that the quantity demanded will change more in response to a change in price.

All Other Things Being Equal, the __________ Substitutes for a Good