How does availability of substitute good affect the elasticity of demand?

How does availability of substitute good affect the elasticity of demand?

Consumers Equilibrium and Demand Economics Class 12 CBSE Value Based Questions

Sahilesh
Jul 22, 2020
1 Answers

Answers

Rakshit patel

Jul 27, 2020

The demand of a good becomes elastic if its substitute good is available in the market.

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