Which of the Following Statements Would You Expect to Be

Multiple Choice

Which of the following statements would you expect to be true about the demand elasticities for cornflakes and food?

A) Compared with food, cornflakes has a lower price elasticity of demand because it is specifically defined.
B) Food has a lower price elasticity of demand than cornflakes because it is more broadly defined.
C) Food has a higher price elasticity of demand because it is a necessity.
D) Because cornflakes is food, cornflakes would have the same price elasticity of demand as food.
E) Because cornflakes is food, but not all food is cornflakes, cornflakes would have a lower price elasticity of demand.