While the demand for beer is relatively price inelastic,the price elasticity of demand for a particular brand is relatively high,due in large part to availability of close substitutes.

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This statement is true. Price elasticity of demand refers to the responsiveness of demand to changes in price. When demand is relatively price inelastic, it means that changes in price have a relatively small effect on the quantity demanded. However, the price elasticity of demand for a particular brand can be relatively high if there are many close substitutes available, meaning that consumers have many options to choose from if the price of one brand increases. This makes it more likely that they will switch to a different brand if the price of their preferred brand goes up.

While the Demand for Beer Is Relatively Price Inelastic,the Price