If demand for the VISINE eye-drop is found to be elastic what would be possible

Question

If demand for the VISINE eye-drop is found to be elastic what would be possible reason(s) for this?

there could be many items considered as VISINE substitutes to choose from

there are very few items considered as VISINE substitutes to choose from

using VISINE may be addictive

b and c

a and c

there could be many items considered as VISINE substitutes to choose from

there are very few items considered as VISINE substitutes to choose from

using VISINE may be addictive

b and c

a and c

Explanation / Answer

Correct option (a).

As more number of substitute goods are available, a good becomes more elastic in demand because, if price increases they quickly switch to the substitutes.

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