The price elasticity of demand would most likely be highest for which of the following goods?
A)food (in general)
B)cars (in general)
C)clothing (in general)
D)Ford cars

Question

Quizplus · Accepted Answer

Price elasticity of demand is higher for specific brands or types of goods, like Ford cars, because consumers can more easily find substitutes compared to broader categories like food, cars, or clothing in general.

The Price Elasticity of Demand Would Most Likely Be Highest