Availability of close substitute makes the demand:

CA Foundation · Business Economics · MTP · September 2024
Availability of close substitute makes the demand:
(A) A. more elastic
(B) B. Less elastic
(C) C. Parallel to X axis
(D) D. None of these

Suggested Answer and Working Notes:

Correct Answer: Option (A)

A. more elastic

Topics: Theory of Demand and Supply

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