Which of the following would most likely have a price elasticity coefficient less than 1?
A)Coffee.
B)Televisions.
C)Fresh fish.
D)New cars.

Question

Quizplus · Accepted Answer

Coffee tends to have a price elasticity coefficient less than 1 because it is considered a necessity by many consumers, making them less sensitive to price changes compared to luxury items like new cars or non-essential goods like televisions.

Which of the Following Would Most Likely Have a Price