In a snack vending machine, consumers can select one of many choices. These snacks are
A) an ideal example of unitary demand.
B) likely to have a price elasticity equal to 1.
C) more likely to be price elastic.
D) likely to have a price elasticity less than 1.
E) more likely to be price inelastic.

Question

Quizplus · Accepted Answer

Snacks in a vending machine are typically considered non-essential and have many substitutes, making them more price elastic.

In a Snack Vending Machine, Consumers Can Select One of Many