Other things equal, if a good has more substitutes, its price elasticity of demand is

Other things equal, if a good has more substitutes, its price elasticity of demand is

Q. Other things equal, if a good has more substitutes, its price elasticity of demand is:

  1. Larger
  2. Smaller
  3. Zero
  4. Unity

Answer: Larger

Demand and Supply MCQs
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