When there are many substitutes available for a particular product,consumers:
A)judge the quality of the substitute product based on supply of each substitute.
B)perceive individual products to have poor durability.
C)can easily switch from one product to another.
D)are sensitive to changes in supply of substitute products belonging to new brands.

Question

When there are many substitutes available for a particular product,consumers:
A)​judge the quality of the substitute product based on supply of each substitute.
B)perceive individual products to have poor durability.
C)can easily switch from one product to another.
D)​are sensitive to changes in supply of substitute products belonging to new brands.

Quizplus · Accepted Answer

When there are many substitutes available for a particular product, consumers can easily switch from one product to another, indicating a high level of substitution flexibility. This gives consumers more power to choose the substitute they prefer, and it also increases competition among substitute products.

When There Are Many Substitutes Available for a Particular Product,consumers