The reason a brand name item (e.g., Tyson chicken)has a larger price elasticity than a class of items (e.g., chicken)is that:
A)there are fewer substitutes for Tyson chicken than for chicken generally.
B)it takes a lot of time to adjust to a substitute brand of chicken.
C)the share of income spent on "chicken" is larger than spent on "Tyson Chicken".
D)there are fewer substitutes for chicken generally than for Tyson chicken.

Question

Quizplus · Accepted Answer

There are other brands of chicken that serve as substitutes for a specific brand of chicken.

The Reason a Brand Name Item (E