Multiple Choice
Which of the following statements would you expect to be true about price elasticities of demand for T-shirts and clothing?
A) Compared with clothing,T-shirts have a lower price elasticity of demand because they are specifically defined.
B) Because T-shirts are clothing,but not all clothing is T-shirts,T-shirts would have a lower price elasticity of demand than clothing.
C) Clothing has a higher price elasticity of demand because it is a necessity.
D) T-shirts would have the same price elasticity of demand as clothing.
E) Clothing has a lower price elasticity of demand because it is more broadly defined.
Correct Answer:

Verified
Correct Answer:
Verified
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