How is price elasticty of demand of a commodity affected by the number

1.	How is price elasticty of demand of a commodity affected by the number of its substitutes ?
Answer» Solution :If the good has more SUBSTITUTES available then DEMAND is elastic as the consumer can shift to other GOODS in case of a CHANGE in price. On the other hand, if a good has less or no substitutes then its demand will be less elastic or it will INELASTIC as the consumer will have no choice available.

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