The more substitutes that exist in a market,

The more substitutes that exist in a market, 



A. the lower the price elasticity for each product.

B. the greater the income elasticity for each product.

C. the easier it will be to utilize a target profit pricing strategy.

D. the more sensitive consumers will be to changes in the price of a particular product.

E. the more likely the market will be characterized as an oligopoly.


Answer: D. the more sensitive consumers will be to changes in the price of a particular product.


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