In some markets consumers may buy many different brands of a product. Which of the statements below
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Question:
In some markets consumers may buy many different brands of a product. Which of the statements below best represents a situation where demand for a particular brand would be very elastic?
A. "The different brands are almost identical. I always buy the cheapest
B. "I use so little of that product that when I do buy it, I don't pay much attention to the price"
C. "The brand I buy is so superior to other available brands that I hardly consider the others"
D. "I pinch pennies in buying other products, but like most people I feel I owe it to myself to get the best brand of this product
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
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