what happens about demand and supply when there are very few substitute goods
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If goods are weak substitutes, there will be a low cross elasticity of demand. Example, if the price of The Daily Mail increases 10%, the demand for the Financial Times may only increase by 1%. Therefore, the cross elasticity of demand is 0.1. These two newspapers are weak substitutes.
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When there are very few substitute goods , the supply cannot meet the increasing demand and thus the business falls under threat
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