Which of the following goods is likely to have the most elastic demand over the relevant range of prices?
A)insulin
B)eggs
C)milk
D)Pepsi Cola
E)gasoline

Name: Which of the following goods is likely to have the most elastic demand over the relevant range of prices? A)insulin B)eggs C)milk D)Pepsi Cola E)gasoline
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Question

Quizplus · Accepted Answer

Pepsi Cola is likely to have the most elastic demand because it has many close substitutes, making consumers more sensitive to price changes.

Which of the Following Goods Is Likely to Have the Most