The demand for classical music overall is _____ price elastic than the demand for Beethoven's music because _____.
A) less; classical music has more substitutes than Beethoven's music
B) more; classical music has more substitutes than Beethoven's music
C) less; the scope of the market for classical music is more broadly defined
D) more; the scope of the market for classical music is more broadly defined

Question

Quizplus · Accepted Answer

The demand for classical music is less price elastic because it is a broader category with fewer substitutes compared to the more specific category of Beethoven's music.

The Demand for Classical Music Overall Is _____ Price Elastic