Economist Jerry Hausman Estimated the Price Elasticity of Demand for Breakfast

Multiple Choice

Economist Jerry Hausman estimated the price elasticity of demand for breakfast cereal. He found that

A) the price elasticity for a particular brand of raisin bran was the same as the elasticity of demand for all family cereals.
B) the price elasticity of demand for Post Raisin Bran is less than the price elasticity of demand for Kellogg's Raisin Bran.
C) the price elasticity of all family breakfast cereals is greater than the price elasticity of demand for Post Raisin Bran or Kellogg's Raisin Bran.
D) the price elasticity of demand for a particular brand of raisin bran was larger in absolute value than the elasticity for all family cereals.