In wealthy countries such as the United States, the price elasticity of the demand for food is ________ it is in poorer countries.
A) greater than
B) less than
C) the same as
D) None of the above; it is not possible to make international comparisons of price elasticity.

Question

Quizplus · Accepted Answer

In wealthier countries, the proportion of income spent on food is generally lower, making the demand for food less sensitive to price changes compared to poorer countries where a larger share of income is spent on food.

In Wealthy Countries Such as the United States, the Price