The demand for food will likely be price ________ while the demand for Brand X Burger will likely be price ________.
A) elastic; elastic
B) elastic; inelastic
C) inelastic; elastic
D) inelastic; inelastic

Question

Quizplus · Accepted Answer

The demand for food in general tends to be price inelastic because it is a basic necessity, and people need to buy it regardless of price changes. However, the demand for a specific brand, like Brand X Burger, is likely to be price elastic because consumers can easily switch to other brands if the price of Brand X Burger increases.

The Demand for Food Will Likely Be Price ________ While