The reason a brand name item (e.g. ,Tyson chicken)has a larger price elasticity than a class of items (e.g. ,chicken),is because:
A)there are fewer substitutes for Tyson chicken.
B)it takes a lot of time to adjust to a substitute brand of chicken.
C)the share of income spent on "chicken" is larger than spent on "Tyson Chicken".
D)there are fewer substitutes for chicken than for Tyson chicken.

Question

Quizplus · Accepted Answer

There are other brands of chicken that serve as substitutes.

The Reason a Brand Name Item (E