The ________ substitutes there are for a product, the ________ the demand for that product is likely to be.

A) fewer; less elastic
B) fewer; less inelastic
C) more; less elastic
D) more; more inelastic

Substitutes

Goods or services that can be used in place of each other, where an increase in the price of one leads to an increase in demand for the other.

Elastic

A characteristic of demand or supply where the quantity demanded or supplied responds significantly to price changes.