The demand schedules for such products as eggs, bread, and electricity tend to be
A)perfectly price elastic.
B)of unit price elasticity.
C)relatively price inelastic.
D)relatively price elastic.

Question

Quizplus · Accepted Answer

These products are necessities with few close substitutes, so consumers are less sensitive to price changes, making their demand relatively price inelastic.

The Demand Schedules for Such Products as Eggs, Bread, and Electricity