Which of these products would have the lowest elasticity of demand?
A) frozen pizza
B) public transportation
C) electricity
D) cosmetic surgery

Name: Which of these products would have the lowest elasticity of demand? A) frozen pizza B) public transportation C) electricity D) cosmetic surgery
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Question

Quizplus · Accepted Answer

Electricity has the lowest elasticity of demand because it is a basic necessity with few direct substitutes, making consumers less sensitive to price changes.

Which of These Products Would Have the Lowest Elasticity of Demand