Answer:
D) All of the above are correct.
Explanation:
There are dozens of different close substitutes to Godiva chocolates, from expensive high quality chocolates to cheap M&Ms.
Since Godiva chocolates are expensive, they are considered a luxury product and luxury products usually have a very elastic demand.
Godiva chocolates are a niche product (they are not common, they are gourmet chocolates and are expensive), so their market is very narrowly defined.
