Which product will have the most elastic demand curve?
A)Fresh fruit
B)Gasoline
C)Electricity
D)Medical services

Question

Quizplus · Accepted Answer

Fresh fruit is a product with a high number of substitutes (different types of fruits), so consumers can easily switch to another option if the price of one type goes up. Additionally, fresh fruit is a product that is not a necessity, which means that consumers can reduce or eliminate their consumption if the price increases too much. These factors make the demand for fresh fruit more elastic than the other products listed.

Which Product Will Have the Most Elastic Demand Curve