The Estimated Price Elasticities of Demand for the Products Listed

Essay

The estimated price elasticities of demand for the products listed in the table as "Product A" are from Table 7-7 in the text.Indicate whether the products listed as "Product B" will have a more elastic or less elastic demand than the corresponding Product A.
$\begin{array}{|l|l|l|l|}\hline \begin{array}{ll}\text { Product A }\end{array} & \begin{array}{l}\text { Estimated } \\\text { Elasticity for } \\\text { Product A }\end{array} & \text { Product B } & \begin{array}{l}\text { Is Estimated Elasticity for } \\\text { Product B More Elastic or Less }\\\text { Elastic than for Product A? }\end{array} \\\hline \text { Beer } & -0.29 & \text { Samuel Adams } & \\&& \text { Boston Lager } & \\\hline \text { Chicken } & -0.37 & \begin{array}{l}\text { Prganically raised } \\\text { chicken }\end{array} & \\\hline \text { Cocaine } & -0.28 & \text { Fllegal narcotics } & \\\hline \text { Cigarettes } & -0.25 & \text { Marlboro Lights } & \\\hline \text { Restaurant } & & \text { Penny's Grand } & \\\text { meals } & -0.67 & \text { Slam breakfast } &\\\hline \end{array}$