The demand for markers is _______________________ than is the demand for Sharpies because ____________________.
A) less price elastic; markers require a smaller portion of one's income
B) more price elastic; markers require a smaller portion of one's income
C) less price elastic; the scope of the market for markers is more broadly defined
D) more price elastic; the scope of the market is for markers is more broadly defined

Question

Quizplus · Accepted Answer

The demand for markers is less price elastic because the market for markers is more broadly defined, meaning there are fewer close substitutes compared to a specific brand like Sharpies.

The Demand for Markers Is _______________________ Than Is the Demand