Which of the Following Statements Is INCORRECT

Multiple Choice

Which of the following statements is INCORRECT?

A) The price elasticity of demand tends to be greater for a specific brand of a product than for a product in general.
B) The price elasticity of demand tends to be smaller when consumers have less time to adjust to price changes.
C) The price elasticity of demand tends to be greater when a product accounts for a smaller portion of the consumer's budget.
D) The price elasticity of demand tends to be greater for a product with more substitutes available.