The demand for Cinnamon Toast Crunch brand cereal is:
A) equally elastic to the demand for cereal in general.
B) less elastic than the demand for cereal in general.
C) more elastic than the demand for cereal in general.
D) None of the statements is correct.

Question

Quizplus · Accepted Answer

Cinnamon Toast Crunch is a specific brand with unique flavor and characteristics, which makes it less necessary for consumers to have that specific product. Therefore, its demand is more elastic than the demand for cereal in general.

The Demand for Cinnamon Toast Crunch Brand Cereal Is