The demand for food (a broad group) is more » MCQ Academy English

Managerial Economics

The demand for food (a broad group) is more

Elastic than the demand for beef (specific commodity)
Inelastic than the demand for beef (specific commodity)
Sensitive to price changes than the demand for beef
Responsive to price change than the demand for beef

Note

The demand for food (a broad group) is more Inelastic than the demand for beef (specific commodity).

Tags: Quantitative Demand Analysis

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