Eggs would typically have a
A) low elasticity of demand, probably between -1 and -2
B) low elasticity of demand, probably between 0 and -1
C) high elasticity of demand , probably between -2 and -3
D) low elasticity of demand, probably between -2 and -3

Question

Quizplus · Accepted Answer

Eggs are considered to be a staple food item, meaning that they are essential and consumed regularly. As a result, the demand for eggs is relatively inelastic, with a low elasticity of demand between 0 and -1. This means that changes in price are not likely to drastically affect the quantity demanded of eggs.

Eggs Would Typically Have a