In 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 likely to be price elastic because there are many substitutes available, making consumers sensitive to price changes.

In a Snack Vending Machine,consumers Can Choose One of Up