Which of the following goods will have the most inelastic demand at any time?
A)Jewelry
B)Big Macs
C)Electricity
D)Pork chops

Question

Quizplus · Accepted Answer

Electricity is considered a necessity and has few substitutes, making its demand more inelastic compared to the other options. Jewelry is a luxury item and has many substitutes, so its demand is more elastic. Big Macs and pork chops are both food items that have some substitutes and are not considered necessities, so their demand is also relatively elastic.

Which of the Following Goods Will Have the Most Inelastic