Which of the following is likely to have the most price elastic demand?
A)scissors
B)fruit
C)music downloads
D)toothpaste

Question

Quizplus · Accepted Answer

Music downloads are likely to have the most price elastic demand because there are many substitutes available (such as streaming services, illegal downloads, physical copies, etc.) and consumers have the ability to quickly and easily compare prices and choose the cheapest option. Additionally, music downloads are often considered a luxury rather than a necessity, meaning consumers are more likely to reduce their purchases if prices increase.

Which of the Following Is Likely to Have the Most