If the Market for a Product Is Broadly Defined, Then

Multiple Choice

If the market for a product is broadly defined, then

A) the good has many complements.
B) there are few substitutes for the product and the demand for the product is relatively inelastic.
C) there are many substitutes for the product and the demand for the product is relatively elastic.
D) the expenditure on the good is likely to make up a large share of one's budget.