The demand for a specific brand of corn flakes cereal is likely to be:
A. very price elastic, because there are many close substitutes available.
B. less price elastic, because there are many close substitutes available.
C. very price elastic, because that specific brand is a unique product.
D. less price elastic, because the specific brand is a unique product.
A. very price elastic, because there are many close substitutes available.
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As output increases, average fixed cost gets smaller and smaller
Indicate whether the statement is true or false
Which of the following are U.S. taxpayers allowed to adjust for inflation for the purpose of income taxes?
a. both interest income and capital gains. b. interest income but not capital gains. c. capital gains but not interest income. d. neither interest income nor capital gains.