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From course:

Economics A Level (DONEEEEEEE)

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Question:

How can Substitutes be an Influence to Price Elasticity of Demand

Author: eric_galvao



Answer:

-More Alternatives a Good has will make it more Price Elastic Demand as Consumers will be able to switch to an Alternative if the Price Rises -The Number of Substitutes is based on how Closely Linked they are.


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