Question

Which situation leads to a higher price elasticity of demand for a good?

O Consumers value the brand of the good.
O Consumers consider the good as a necessity.
O Consumers can easily find a substitute for the good.
O Consumers spend a smaller share of their budget on the good.

Answer 1

Consumers can easily find a substitute for the good.

Step-by-step explanation:

This will make the goods more available. In a simple way the item can be improved upon or replaced easily. Instead of rare parts and things that can come close to the product even if it breaks.