The more available substitutes there are for a good,the
A)larger the number of consumers
B)smaller the number of consumers
C)smaller the supply side response
D)more elastic the demand for that good
E)less elastic the demand for that good

Question

Quizplus · Accepted Answer

When there are more available substitutes for a good, consumers have more options to choose from and can easily switch to a substitute if the price of the original good increases. This makes the demand for the original good more elastic, meaning that even small changes in price will cause a large change in the quantity demanded.

The More Available Substitutes There Are for a Good,the