alleryMatch market scope: 1. Broad: p. Inelastic 2. Food: q. Category 3. Brand: r. Elastic
A1-p, 2-q, 3-r
B1-p, 2-r, 3-q
C1-q, 2-p, 3-r
D1-r, 2-p, 3-q
Answer & Solution
Correct answer: A. 1-p, 2-q, 3-r
Broadly defined goods like food have few substitutes and are inelastic, while specific narrow brands have many substitutes and are elastic.
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