Which of the following statements is false?
A) Ham has a higher price elasticity of demand than meat.
B) Peaches have a higher price elasticity of demand than fruit.
C) Soap has a higher price elasticity of demand than Ivory Soap.
D) Carrots have a higher price elasticity of demand than vegetables.

Question

Quizplus · Accepted Answer

Specific brands like Ivory Soap tend to have higher price elasticity of demand compared to the general category like soap, as consumers can easily switch to other brands if the price of Ivory Soap increases.

Which of the Following Statements Is False