Multiple Choice
The more broadly a good is defined
A) the more substitutes it has, so demand will be more price-elastic
B) the less substitutes it has, so demand will be more price-elastic
C) the more substitutes it has, so demand will be less price-elastic
D) the less substitutes it has, so demand will be less price-elastic
E) has no effect on the good's price elasticity of demand
Correct Answer:
Verified
Correct Answer:
Verified
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