Question

If value of cross price elasticity is positive then it means there are less close substitutes are available of that product.

Answer 1

Answer:

bye Good Night sweet dreams take care of yourself and your family members stay home stay safe

Answer 2

Answer:

Explanation:

Demand for a commodity with large number of substitutes will be more elastic. The reason is that even a small rise in its prices will induce the buyers to go for its substitutes. ... Thus, availability of close substitutes makes the demand sensitive to change in the prices.