Demand for a good will tend to be more elastic if it exhibits this cha – InterviewSolution

1.	Demand for a good will tend to be more elastic if it exhibits this characteristic (a) It represents a small part of the consumer’s income (b) The good hgs many substitutes available (c) It is a necessity (as opposed to luxury) (d) There is little time for the consumer to adjust to the price changes
Answer» (b) The good hgs many substitutes available

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