Multiple Choice
The demand for a specific brand of corn flakes cereal is likely to be:
A) very price elastic, because there are many close substitutes available.
B) less price elastic, because there are many close substitutes available.
C) very price elastic, because that specific brand is a unique product.
D) less price elastic, because the specific brand is a unique product.
Correct Answer:
Verified
Correct Answer:
Verified
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