Given the proportion of a consumer's income spent on various goods,the demand for _____ is likely to be the most price inelastic.
A)furniture
B)automobiles
C)hotel rooms
D)airline travel
E)candy bars

Question

Quizplus · Accepted Answer

Candy bars are typically considered to have the most price inelastic demand among the options given. This is because they are low-cost items for which consumers' purchase decisions are less sensitive to price changes. People are likely to buy candy bars even if the price increases slightly, as they are small indulgences rather than significant financial commitments.

Given the Proportion of a Consumer's Income Spent on Various