"The fewer the number of substitutes for a product,the more elastic the demand for that product." Is the previous statement true or false?

Name: "The fewer the number of substitutes for a product,the more elastic the demand for that product." Is the previous statement true or false?
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The Answer of "The fewer the number of substitutes for a product,the more elastic the demand for that product." Is the previous statement true or false?

"The Fewer the Number of Substitutes for a Product,the More