If a Product Is Narrowly Defined, It Is Likely to

Multiple Choice

If a product is narrowly defined, it is likely to

A) have few substitutes, and therefore its demand is less elastic.
B) be unique and have many substitutes.
C) be unique, and therefore its demand is inelastic.
D) have a larger proportion of income spent on it.
E) have many substitutes and therefore its demand is elastic.