Which of the Following Statements Would You Expect to Be

question 29

Multiple Choice

Which of the following statements would you expect to be true about price elasticities of demand for T- shirts and clothing?

• A) Clothing has a higher price elasticity of demand because it is a necessity.
• B) Clothing has a lower price elasticity of demand because it is more broadly defined.
• C) Compared with clothing, T- shirts have a lower price elasticity of demand because they are specifically defined.
• D) T- shirts would have the same price elasticity of demand as clothing.
• E) Because T- shirts are clothing, but not all clothing is T- shirts, T- shirts would have a lower price elasticity of demand than clothing.