Question: Over time, how does increased market information and the ability to find substitutes affect a product's demand elasticity? Group of answer choices Demand becomes more
Over time, how does increased market information and the ability to find substitutes affect a product's demand elasticity? Group of answer choices Demand becomes more elastic as consumers find more substitutes. Demand becomes more inelastic as consumers become loyal. Demand elasticity does not change over time. Demand shifts to perfectly elastic regardless of substitutes
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
