Question 7 Q: 7 With respect to price elasticity of demand: Options A: The shorter the time period, the more product demand becomes elastic because less choices are available. B: Product demand is more elastic when fewer substitutes are available. C: Product demand is more inelastic when more substitutes are available. D: Product demand is more elastic when more substitutes are available. Save Question Show Answer Discussion 0 Clear Discussion Most voted Newest No comments yet. Be the first to comment. Post Be respectful. No spam. Correct Answer: D Explanation Choice "d" is correct. Product demand is more elastic when more substitutes are available.Choice "a" is incorrect. The longer the time period, the more product demand becomes elasticbecause more choices are available.Choice "b" is incorrect. Product demand is more elastic when more substitutes are available, notfewer substitutes.Choice "c" is incorrect. Product demand is more inelastic when few substitutes are available.