Demand for McDonald's Hamburgers Is More Elastic Than Demand for Hamburgers

question 73

Multiple Choice

Demand for McDonald's hamburgers is more elastic than demand for hamburgers made at home because

• A) the percentage of the household budget spent on hamburgers is small.
• B) hamburgers are a luxury.
• C) there are more close substitutes for McDonald's hamburgers than there are for hamburgers made at home.
• D) McDonald's hamburgers are a necessity.

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Definitions:

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