Multiple Choice
When a good is more broadly defined (for example, Starbucks Caramel Macchiato versus coffee) ,
A) it will have more available substitutes so demand will be more elastic.
B) it will have more available substitutes so demand will be less elastic.
C) it will have fewer available substitutes so demand will be more elastic.
D) it will have fewer available substitutes so demand will be less elastic.
Correct Answer:
Verified
Correct Answer:
Verified
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