Why is a more narrowly defined good (e.g., pizza) likely to have a greater elasticity of demand

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Why is a more narrowly defined good (e.g., pizza) likely to have a greater elasticity of demand than a more broadly defined good (e.g., food)?

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Exploring Microeconomics

ISBN: 9780176531072

4th Edition

Authors: Robert L. Sexton

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Question Posted: Oct 12, 2024 08:00 AM

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Why is a more narrowly defined good (pizza) likely to have a greater elasticity of demand than a more broadly defined good (food)?
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Why is a more narrowly defined good (e.g., pizza) likely to have a greater elasticity of demand than a more broadly defined good (e.g., food)?
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Why is a more narrowly defined good (e.g., pizza) likely to have a greater elasticity of demand

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Exploring Microeconomics

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