a snack vending machine,consumers can choose one of up to of 20 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 to be price elastic because there are many substitutes available, and consumers can easily switch to another snack if the price of one increases.

A Snack Vending Machine,consumers Can Choose One of Up to of 20