The Reason a Brand Name Item (E

Multiple Choice

The reason a brand name item (e.g. ,Molson) has a larger price elasticity than the item class (e.g. ,beer) ,is that

A) there are fewer substitutes for Molson.
B) there is more time for adjustments to be made for Molson.
C) beer's share of income is larger than Molson's.
D) there are fewer substitutes for beer.
E) wine is a better substitute for beer than Labatt is for Molson.