When a Good Is More Narrowly Defined (For Example, Airline

question 26

Multiple Choice

When a good is more narrowly defined (for example, airline travel versus Delta Airlines travel) ,

• A) it will have fewer available substitutes so demand will be more elastic.
• B) it will have fewer available substitutes so demand will be less elastic.
• C) it will have more available substitutes so demand will be more elastic.
• D) it will have more available substitutes so demand will be less elastic.

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