Multiple Choice
The price elasticity of demand for meat in general is inelastic while the price elasticity of demand for turkey or chicken is more elastic. Why?
A) Turkey and chicken are not red meat. Because they are not the same as other meats, they should have different elasticities.
B) Turkey and chicken have many substitutes, such as fish or beef, while meat in general has fewer substitutes.
C) Turkey and chicken are inferior goods.
D) Turkey and chicken are normal goods.
Correct Answer:
Verified
Correct Answer:
Verified
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