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Author Question: The demand for flour is a. inelastic because there are few substitutes for flour and it represents ... (Read 58 times)

PhilipSeeMore

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  • Posts: 561
on: Jul 1, 2018
The demand for flour is
 a. inelastic because there are few substitutes for flour and it represents a large percentage of a consumer's budget
  b. inelastic because there are many substitutes for flour and it represents a large percentage of a consumer's budget
  c. inelastic because there are few substitutes for flour and it represents a small percentage of a consumer's budget
  d. elastic because there are no substitutes for flour and it represents a large percentage of a consumer's budget
  e. elastic because there are many substitutes for flour and it represents a large percentage of a consumer's budget

Question 2

For which of the following is demand likely to be the most price inelastic?
 a. furniture
  b. automobiles
  c. hotel rooms
  d. airline travel
  e. candy bars


brittanywood

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Reply #1 on: Jul 1, 2018
Answer to Question 1

C

Answer to Question 2

E


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