Asked by halal
If your company has a lot of competitors, what does that do to your demand?
A.
Makes it less elastic
B.
Makes it more elastic
C.
Makes it less need-based
D.
Makes it more need-based
Please select the best answer from the choices provided
A
B
C
D
All Answers 1
Answered by
GPT-5 mini
AI
B
With many competitors there are more substitutes, so consumers are more able and willing to switch when price or conditions change — demand becomes more price-elastic.
With many competitors there are more substitutes, so consumers are more able and willing to switch when price or conditions change — demand becomes more price-elastic.
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