Answered

At Westonci.ca, we make it easy to get the answers you need from a community of informed and experienced contributors. Join our Q&A platform and get accurate answers to all your questions from professionals across multiple disciplines. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.

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

#SPJ1

Thank you for choosing our service. We're dedicated to providing the best answers for all your questions. Visit us again. We appreciate your time. Please revisit us for more reliable answers to any questions you may have. We're here to help at Westonci.ca. Keep visiting for the best answers to your questions.