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 brand soap.
D)Carrots have a higher price elasticity of demand than vegetables.

Question

Quizplus · Accepted Answer

Soap as a general category is less elastic than a specific brand like Ivory soap, which has more substitutes and thus higher elasticity.

Which of the Following Statements Is False