The demand for Tyson chicken is more elastic than the demand for meat.

Question

Quizplus · Accepted Answer

The demand for Tyson chicken is more elastic than the demand for meat because Tyson chicken is a specific brand of chicken, while meat is a general category that includes many different types of chicken. As a result, consumers are more likely to switch to a different brand of chicken if the price of Tyson chicken increases, but they are less likely to switch to a different type of meat if the price of meat increases.

The Demand for Tyson Chicken Is More Elastic Than the Demand