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"Which of the following is least price elastic? (A) air travel (B) furniture (C) restaurant meals (D) shrimp"

"Which of the following is least price elastic? (A) air travel (B) furniture (C) restaurant meals (D) shrimp"
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4 votes
"Which of the following is least price elastic?

(A) air travel
(B) furniture
(C) restaurant meals
(D) shrimp"

User Gbam
by
7.7k points

1 Answer

4 votes

air travel

Air travel has an estimated price elasticity of demand of 2.4, so its price elasticity is fairly elastic.

User Nadavwr
by
8.4k points
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