Which of the following has the least elastic demand?
A)Post Raisin Bran cereal
B)Honey Nut Cheerios
C)raisin bran cereal
D)bran cereal
E)breakfast cereal

Question

Quizplus · Accepted Answer

Breakfast cereal has the least elastic demand because it is a broad category that includes all types of cereal, making it harder for consumers to find close substitutes. The more specific the product, like Post Raisin Bran or Honey Nut Cheerios, the easier it is for consumers to switch to alternatives, making their demand more elastic.

Which of the Following Has the Least Elastic Demand