Which is likely to occur if there is a price increase for a good which exhibits elastic demand? A) People might buy a more expensive substitute good. B) People might buy a less expensive complementary good. C) People might buy a less expensive substitute good. D) People might buy a more expensive complementary good.

Question

11 March, 10:36

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Answers (2)

Know the Answer?

Paisley Rios · Answer 1

The correct answer is C) People might buy a less expensive substitute good.

Karissa Jennings · Answer 2

C people would buy a less expensive substitute good