Which of the following is likely to have the most price elastic demand?
a. ice cream
b. frozen yogurt
c. vanilla ice cream
d. Häagen-Dazs® vanilla bean ice cream
d
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If there is a shortage of loanable funds, then
a. the quantity of loanable funds demanded is greater than the quantity of loanable funds supplied and the interest rate is above equilibrium. b. the quantity of loanable funds demanded is greater than the quantity of loanable funds supplied and the interest rate is below equilibrium. c. the quantity of loanable funds supplied is greater than the quantity of loanable funds demanded and the interest rate is above equilibrium. d. the quantity of loanable funds supplied is greater than the quantity of loanable funds demanded and the interest rate is below equilibrium.
The agreement of the United States, Canada, and Mexico to eliminate tariffs on the shipment of most products among the three countries is called the
a. General Agreement on Tariffs and Trade. b. Uruguay Round. c. North American Free Trade Agreement. d. Tariff Reduction Act of 1993.