The demand for nike shoes is more price elastic than demand for basketball shoes as a whole. This is best explained by the fact that:
1. There are more substitutes for nike basketball shoes than for basketball shoes as a whole.
2. There are more compliments for nike basketball shoes than for basketball shoes as a whole
3. Nike basketball shoes are a luxury and not a necessity.
4. Nike basketball shoes are the highest quality and are widely advertised
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The demand for nike shoes is more price elastic than demand for basketball shoes as a whole. This is...
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