QUESTION IMAGE
Question
- generally, the more substitutes there are for a good. *
mark only one oval.
more complements there are
less valuable it is
less price change
more elastic the demand
This relates to demand elasticity in economics: when a good has more substitutes, consumers can easily switch to alternatives if its price changes, making demand more responsive (elastic) to price shifts. The other options are incorrect: substitutes and complements are unrelated, number of substitutes doesn't determine a good's inherent value, and more substitutes don't lead to less price change.
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more elastic the demand