The demand for strawberry ice cream tends to be relatively price-elastic because:
A)for most people,there are many close substitutes for strawberry ice cream.
B)it costs so little.
C)it has to be consumed very quickly.
D)it is only popular in the summer.

Question

Quizplus · Accepted Answer

Strawberry ice cream has many close substitutes, such as other flavors of ice cream or frozen yogurt, which means that consumers have options if the price of strawberry ice cream increases. This makes the demand for strawberry ice cream price-elastic.

The Demand for Strawberry Ice Cream Tends to Be Relatively