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In some markets consumers may buy many different brands of a product. Which of the represents a situation where demand for a particular brand would
In some markets consumers may buy many different brands of a product. Which of the 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"
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