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

Answer rating: 100% (QA)

The detailed answer for the above question is provided below A Th... View the full answer