Multiple Choice
Which of the following best describes the relationship between the elasticity of demand and the availability of substitutes?
A) The elasticity of demand will remain constant as the availability of substitutes decrease.
B) The elasticity of demand will increase as the availability of substitutes decreases.
C) The elasticity of demand will decrease as the availability of substitutes remains constant.
D) The elasticity of demand will increase as the availability of substitutes increases.
Correct Answer:
Verified
Correct Answer:
Verified
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