In U.S.markets,there are many substitute products for Fruit Loops cereal,suggesting the price elasticity of demand for Fruit Loops is elastic.

Question

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The availability of substitute products in the market suggests that consumers have options to choose from, making them more sensitive to the price of Fruit Loops cereal. As a result, the price elasticity of demand for Fruit Loops is likely to be elastic, meaning that a change in its price would have a significant impact on the quantity demanded by consumers.

In USmarkets,there Are Many Substitute Products for Fruit Loops Cereal,suggesting the the Price