The demand for bread is likely to be more elastic than the demand for solid-gold bread plates.

Name: The demand for bread is likely to be more elastic than the demand for solid-gold bread plates.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The demand for bread is likely to be more inelastic because it is a basic necessity with fewer substitutes, whereas solid-gold bread plates are luxury items with more elastic demand due to the availability of many substitutes and their sensitivity to price changes.

The Demand for Bread Is Likely to Be More Elastic