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When there are many substitutes available in the market for a particular product, consumers _______. a. have a hard time switching from one product to another, making demand more inelastic b. can easily switch from one product to another, making demand more inelastic c. have a hard time switching from one product to another, making demand more elastic d. can easily switch from one product to another, making demand more elastic

Sagot :

jayilych4real

The outcome that is likely to occur when there are many substitutes available in the market for a particular product, is that customers can easily switch from one product to another, making demand more elastic.

What is Demand?

This refers to the quantity of goods that are needed by customers at any given time that affects price and supply.

Hence, we can see that in the case where there are many substitutes for a particular product, this would lead to a more elastic demand because the people can easily switch from one product to another.

Read more about elasticity of demand here:

https://brainly.com/question/5078326

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