Demands for goods with numerous near replacements are typically more elastic. The right response is therefore option B.
With more closely related replacements available, a product's price elasticity of demand rises. When there are numerous products that are nearly identical to the original, consumers might simply switch to purchasing the substitutes when the price is significantly raised.
According to the producer's hypothesis, substitute goods are those that can be utilised to fulfil the same consumer need. One of the elements that influences a product's demand's price elasticity is the availability of comparable replacements.
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