Which of the Following Statements Is INCORRECT

question 38

Multiple Choice

Which of the following statements is INCORRECT?

• A) The price elasticity of demand tends to be greater for a specific brand of a product than for a product in general.
• B) The price elasticity of demand tends to be smaller when consumers have less time to adjust to price changes.
• C) The price elasticity of demand tends to be greater when a product accounts for a smaller portion of the consumer's budget.
• D) The price elasticity of demand tends to be greater for a product with more substitutes available.

---

Definitions:

Scanner

A device that captures images from photographic prints, posters, magazine pages, and similar sources for computer editing and display.

Electrical Power

The generation, distribution, and use of electric energy.

Dialog Box

A small window that appears in a graphical user interface to communicate information to the user and receive input.

File Name

A label assigned to a digital document or file to distinguish it from others and to indicate its contents.