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

Karina Morrison

8 December, 14:27

+3

Answers (2)

Know the Answer?

Faith Mccarthy · Answer 1

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

Rachael Walter · Answer 2

C people would buy a less expensive substitute good