Which of the following items would be expected to have the lowest price elasticity of demand?
A) Food
B) Green beans
C) Chicken
D) Hamburgers
E) Fish

Question

Quizplus · Accepted Answer

Food is a necessity and therefore generally has a low price elasticity of demand. Consumers are less likely to change their purchasing behavior in response to changes in price for essential items like food.

Which of the Following Items Would Be Expected to Have